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The Day Ahead: Equity Markets Calm After European Q1 GDP

The global stock market is relatively benign this morning, and domestic stocks look to open firmer, after Euro zone Q1 GDP rose 0.2% in the quarter, slightly faster than expected and following the prior quarter's flat reading. Annual GDP was up 0.5%, in line with forecasts, and following a 2.2% pullback in Q4. “Debt concerns were allayed somewhat by news of better-than-expected Q1 GDP growth in the Euro area and by Spain’s announcement to slash public sector spending and wages,” said economists from BMO in a morning note. “Even the wobbly Chinese stock market had a rare up day.” An hour before the opening bell, Dow futures are up 44 points to 10,753 and S&P 500 futures are up 5.10 points to 1,157.30. Light crude oil is up 0.20% to $76.52, and Spot Gold...(read more)

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