By Victor Reklaitis and Sara Sjolin, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks futures pointed to a lower
open Thursday after Russia-Ukraine worries ramped up again, but
they pared some of their losses after a stronger-than-anticipated
reading on U.S. economic growth.
Kiev said Russian forces had entered Ukraine and seized the
coastal town of Novoazovsk.
Futures for the S&P 500 (SPU4) lost 6.70 points, or 0.3%, to
1,990.40, while those for the Dow Jones Industrial Average (DJU4)
dropped 51 points, or 0.3%, to 17,042. Futures for the Nasdaq 100
(NDU4) declined 12 points, or 0.3%, to 4,060.75.
The losses come after the S&P 500 and Dow closed higher for
a third straight day on Wednesday, with the S&P clinging to
2,000 and marking its 31st record close this year.
Today's market-moving data: The second estimate for
second-quarter U.S. gross domestic product indicated expansion of
4.2%. Economists polled by MarketWatch had predicted 3.9% growth in
GDP, down from an initial read of 4%.
Weekly jobless claims came in at 298,000, a slightly more
encouraging result than what was expected by economists surveyed by
MarketWatch, who forecast 300,000.
At 10 a.m. Eastern, an index that measures how many U.S. homes
are ready to be sold is expected to show a rebound in July, after
declining in June.
Movers and shakers: Abercrombie & Fitch Co. (ANF), Dollar
General Corp. (DG) and Williams-Sonoma Inc. (WSM) all dropped in
premarket action after their quarterly earnings reports.
On the upside, Signet Jewelers Ltd. (SIG) and Workday Inc.(WDAY)
rose premarket in the wake of their quarterly results. (Read more
about Thursday's jumpiest stocks in the Movers & Shakers column
http://www.marketwatch.com/story/workday-williams-sonoma-guess-are-stocks-to-watch-thursday-2014-08-28.)
Other markets: European stocks posted sharp losses as the first
country-specific reports on August consumer prices fueled fears
that the euro zone is heading toward deflation. Renewed tensions in
Ukraine further added to the nervousness. Asian markets closed
mostly in the red.
Oil prices gained, while gold also moved higher. The dollar
advanced against most of its rivals.
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