U.S. stocks appear set to rise at the open, as momentum from the previous session continues. Today investors will focus on reports on gross domestic product, regional manufacturing and consumer sentiment.
The first quarter GDP was revised upward to a -5.7% annual rate of decline versus an originally reported -6.1% decline. Gross domestic investment, government spending, and net exports were revised upward and added to GDP. However, personal consumption expenditures growth was revised lower to 1.5% from an originally reported 2.2%. The Chicago PMI and the University of Michigan Consumer Sentiment report are still to come.
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