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Stock futures rise modestly ahead of GDP report

Fri Jul 24, 2009 6:59 AM EDT
business, us, wall-street, wall, street, dow-jones
Stephen Bernard, AP Business Writer
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showing 1 of 5 photos
<p>Traders work on the floor of the New York Stock Exchange Thursday, July 23, 2009 in New York. Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January. (AP Photo/Mary Altaffer)</p>

Traders work on the floor of the New York Stock Exchange Thursday, July 23, 2009 in New York. Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January. (AP Photo/Mary Altaffer)

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NEW YORK — Stock futures are rising modestly ahead of a key reading on the overall output of the economy during the second quarter.

The advance early Friday comes a day after markets restarted a two-week rally that went dormant earlier in the week and pushed all the major indexes to their highest closes since last fall.

Asian markets rallied overnight, but European indexes are down modestly.

Investors will focus on the quarterly gross domestic product report. Analysts expect GDP fell during the second quarter, but the pace of the loss slowed.

Dow Jones industrial average futures are up 39, or 0.4 percent, 9,129. Standard & Poor's 500 index futures are up 2.40, or 0.2 percent, at 984.60, while Nasdaq 100 index futures are up 1.25, or 0.1 percent, at 1,608.00.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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