U.S. Stock Futures React to Unexpected Durable Goods Data

U.S. stock index futures reduced their losses on Thursday following weaker-than-expected durable goods data, sparking hopes for earlier interest rate cuts by the Federal Reserve. In June, durable goods orders fell by 6.6%, contrary to the anticipated 0.3% rise. Meanwhile, U.S. GDP grew by 2.8% in Q2, surpassing forecasts.

U.S. stock index futures saw a reduction in their losses on Thursday, buoyed by weaker-than-expected durable goods data which raised hopes for early interest rate cuts by the Federal Reserve. Durable goods orders dropped by 6.6% in June, defying expectations of a 0.3% increase.

According to the Commerce Department's advance GDP estimate, U.S. gross domestic product expanded by 2.8% in the second quarter, outperforming the 2% growth forecast by economists polled by Reuters.

As of 8:34 a.m. ET, Dow e-minis were up 35 points, or 0.09%, while S&P 500 e-minis dropped 7.5 points, or 0.14%, and Nasdaq 100 e-minis declined by 48.75 points, or 0.25%.

(With inputs from agencies.)