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Dow Jones futures still in the red ahead of US Q1 GDP report

At 12.30pm GMT the US will release their Q1 flash estimate of economic growth. GDP in Q1 is forecast to grow at around 2.5%, compared to a previous run rate of 3.4% in Q4 2023. The GDP price index is forecast show a marked increase in prices, to around 3%, from just 1.6%. The core GDP price index is expected to increase to 3.4%, from 2%. So, depending on what emerges there, it could have just as big an impact on any market reaction as the GDP data itself. We also have the latest weekly jobless claims due out at the same time and Q1 PCE prices and consumer spending over the same period. That PCE data is also quite important ahead of the monthly PCE report tomorrow. Ahead of this data today, the Dow Jones futures are still in the red. The index was the weakest of the three major indexes yesterday, but we are only talking about a small loss on the day, of 42 points. The index closed yesterday at 38,460. The Dow Jones futures are currently pricing a reopening at around 38,350 ahead of all that data and of course it falls due ahead of the opening, which could be pricing markedly different by then. 

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