Here are five key things investors need to know to start the trading day:
1. A flood of reports
Stock futures were lower on Thursday as Wall Street digests a mixed week of major earnings and inflation data reports. Futures tied to the Dow Jones Industrial Average dropped 0.55%, while S&P 500 futures lost 0.80% and Nasdaq 100 futures slid 1.0%. More tech giants, including Amazon and Apple, will report earnings on Thursday. The September personal consumption expenditures price index, the Federal Reserve’s preferred inflation indicator, is scheduled for 8:30 a.m. ET. Follow live market updates.
2. Starbucks earnings
3. Slow and steady
Strong consumer spending helped push another quarter of solid yet underwhelming growth for the U.S. economy. Gross domestic product increased at a 2.8%annualized rate, below the 3.1% expected by analysts surveyed by Dow Jones and the 3.0% jump during the second quarter. Consumer spending accounted for nearly two-thirds of the total and increased by 3.7%, the …