NEW YORK (CNNfn) - U.S. stock investors will take a look at the big picture Friday as a report on the nation's gross domestic product in the third quarter is due just before the market open.
Early indications suggest U.S. stocks will open higher, but that could change rapidly after the GDP report.
The GDP will be examined for signs of whether the nation's economy is slowing down, as suggested in some other recent economic statistics, or continuing to show strong growth.
Analysts surveyed by Briefing.com are looking for a 3.5 percent annual growth rate in the quarter, down from the 5.6 percent revised rate in the second quarter. Also to be watched is the GDP chain deflator, a measure of inflationary pressures. The Briefing.com survey forecasts that component rose at a 2.3 percent rate in the third quarter, slightly off the 2.4 percent gain in the second quarter.
Early indications suggest U.S. stocks will open higher, but that could change rapidly after the GDP report.
The GDP will be examined for signs of whether the nation's economy is slowing down, as suggested in some other recent economic statistics, or continuing to show strong growth.
Analysts surveyed by Briefing.com are looking for a 3.5 percent annual growth rate in the quarter, down from the 5.6 percent revised rate in the second quarter. Also to be watched is the GDP chain deflator, a measure of inflationary pressures. The Briefing.com survey forecasts that component rose at a 2.3 percent rate in the third quarter, slightly off the 2.4 percent gain in the second quarter.
