U.S. Stock Futures Rally Following Positive GDP Report

U.S. stock index futures rose on Thursday as a robust GDP report for Q2 alleviated concerns about an economic downturn. GDP grew by 3%, exceeding expectations of 2.8%. Additionally, initial unemployment claims stood at 231,000, slightly lower than forecast. This boosted Dow, Nasdaq, and S&P 500 futures.

U.S. stock index futures saw a significant rise on Thursday, driven by a stronger-than-expected GDP report for the second quarter. The Commerce Department's second estimate revealed that the GDP grew by 3%, surpassing analysts' projections of 2.8% growth and easing fears of an imminent economic slowdown.

In a separate report, the Labor Department noted that initial claims for unemployment benefits for the week ending Aug. 24 were at 231,000, marginally below the anticipated 232,000 as per economists polled by Reuters. This further buoyed investor confidence.

As of 08:33 a.m. ET, Dow E-minis had risen by 289 points or 0.7%, Nasdaq 100 E-minis gained 81.75 points or 0.42%, and S&P 500 E-minis increased by 21 points or 0.37%.

(With inputs from agencies.)