From MarketWatch’s “U.S. stock futures resume chase toward record highs as GDP and key tech reports await” posted early Thursday:
The initial reading of third-quarter gross domestic product is due at 8:30 a.m. Eastern, with expectations of 2.8% growth.
“!f anything, following yesterday’s news of an unexpected sharp widening of the merchandise trade deficit in September, the balance of risks to that estimate appear to lie to the downside, with net exports perhaps subtracting 1 percentage point from growth,” said Emily Nicol, economist at Daiwa Capital Markets Europe.
Caterpillar and Merck are due to release results ahead of the open, with tech giants Amazon and Apple reporting after the close. (emphasis mine)
Patterns: Engulfing line (bearish). Max pain is still at $147.