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U.S. stock futures experienced a decline in premarket trading following the release of data indicating slower-than-expected economic growth in the first quarter of the year.
S&P 500 futures were down 1.2%, while Dow futures slipped 1.1% and Nasdaq-100 futures retreated 1.5%, all dropping below pre-release levels.
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The yield on the 10-year Treasury note edged up to 4.692% from 4.663% prior to the data release. Bond yields typically increase as prices fall.
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According to the Commerce Department’s report on Thursday, U.S. gross domestic product (GDP) expanded at a seasonally adjusted rate of 1.6% in the first quarter after adjusting for inflation.
