(Reuters) – S&P 500 e-minis futures jumped on Thursday, gaining sharply as data showed slightly better-than-expected U.S. economic growth in the third quarter, with a key inflation metric down from the prior quarter.

Gross domestic product increased at a 2.6% annualized rate last quarter, the U.S. Commerce Department said in its advance GDP estimate, ending two straight quarterly decreases in output.

The core PCE price index rose in line with expectations and showed a decline from the second quarter.

At 8:33 a.m. ET, Dow e-minis were up 353 points, or 1.11%, S&P 500 e-minis were up 16 points, or 0.42%, and Nasdaq 100 e-minis were down 12.25 points, or 0.11%.

Moments before the data, Dow e-minis were up 229 points, or 0.72%, S&P 500 e-minis were down 2.5 points, or 0.07%, and Nasdaq 100 e-minis were down 71.25 points, or 0.62%.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

You Might Like
Learn more about RevenueStripe...