U.S. stock futures fell Thursday after U.S. gross domestic product increased less-than-expected in the first-quarter.
Stock futures fell sharply Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation.U.S. gross domestic product expanded by 1.6% in the first quarter, the Bureau of Economic Analysis said. Economists polled by Dow Jones forecast GDP growth would come in at 2.4%.
The lackluster GDP added further pressure to an already tense market contending with concerns over a pullback in growth among technology earnings.
On the other hand, American added more than 4%. Despite also coming in below analysts' forecasts on both lines, investors appeared focused on Merck was aided in the period by strong sales of its vaccination products and Keytruda cancer drug. Shares of the stock, which is part of theThe burrito chain on Wednesday reported first-quarter earnings and revenue that surpassed analysts' expectations, fueled by higher traffic to its restaurants. Earnings per share came out at $13.37, excluding items, while analysts polled by LSEG had called for $11.68 per share. Chipotle posted $2.
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