Market Cautious Before Quarterly GDP

Stocks are indicated to open lower as investors prepare for a string of potentially negative economic reports.

S&P 500 futures are falling about one-quarter of a percent, while European indexes are down by half a percent or more. Asia was mixed but mostly lower overnight as Shanghai and Tokyo both declined.

Equities have bounced smartly in the last week, rebounding from their biggest drop of the year. A focus on corporate earnings, rather than economic news, supported the rebound. But attention now returns to the bigger picture, with the release of first-quarter gross domestic product at 8:30 a.m. ET. Next week’s calendar brings key reports such as the Institute for Supply Management’s index on Wednesday and non-farm payrolls on Friday. Both missed expectations last month by a wide margin.

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