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Market Snapshot: U.S. stock futures edge higher ahead of GDP report, Robinhood debut

U.S. stock futures edged higher Thursday ahead of a report on the health of the U.S. economy, as investors await the trading debut of online brokerage Robinhood Markets.

What’s happening

Futures on the Dow Jones Industrial Average

rose 133 points;

Futures on the S&P 500

rose 0.2%;

Futures on the Nasdaq 100

slipped fractionally.

On Wednesday, the Dow

and the S&P 500

closed lower, while strong results from Google owner Alphabet

carried the Nasdaq Composite


What’s going on

The Commerce Department reports second-quarter gross domestic product figures, with expectations for an 8.5% annualized rise. There’s also weekly jobless claims and existing home sales data due for release.

Earnings season continues as online retailing giant

reports after the close of trade. Facebook

shares were trading lower in premarket action as the social media giant, like other tech titans, beat second-quarter earnings estimates but also guided to slowing revenue growth in the second half of the year.

Like Facebook, PayPal

also beat estimates but said current quarter sales would miss expectations.

Robinhood Markets

makes its long-awaited debut after pricing its initial public offering at the low end of expectations.

Other markets

The Hang Seng

rallied 3.3% on reports Chinese authorities tried to placate top foreign institutions about a wave of regulatory actions. China has no intention to decouple from global markets, the Wall Street Journal quoted the vice chairman of the China Securities Regulatory Commission as saying.

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