U.S. stock futures fell today after data that showed the economy contracted in the first quarter, and amid worries about Greece's ability to strike a deal with its euro zone partners by Sunday.
Futures the Dow Jones Industrial Average fell 47 points to 18,087 at 8:41 a.m. in New York, while those for the S&P 500 index dipped 5.5 points to 2,116. Nasdaq-100 index futures eased 15.50 points to 4,527.50.
Gross domestic product — the value of everything a nation produces — shrank by 0.7% annual rate from January to March, the Commerce Department said today. Last month the government originally had reported a tepid 0.2% increase in GDP.
A euro zone official said Greece will not be able to get the money still available under its current bailout plan if it does not agree to the outline of a such a deal by the end of the week.
MOVERS:
Altera (NASDAQ:ALTR) rose 6.5 percent in premarket trading after the New York Post reported that Intel (NASDAQ:INTC) was close to buying the chipmaker for about $15 billion. Intel was up 0.7 percent.
Splunk (NASDAQ:SPLK) fell 2.4 percent after the data analytics software maker posted a bigger quarterly loss, weakened by higher expenses.
Heron Therapeutics (NASDAQ:HRTX) surged 38 percent after the company's nausea drug met the main goal in a late-stage trial.
GameStop (NYSE:GME) added 6.3 percent to $40.92 after the video-game retailer raised its full-year forecast and reported quarterly profit that beat analysts’ estimates.
Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA) gained 2.4 percent to $156.27 after raising its annual sales growth projection.
COMMODITIES:
Gold steadied off the previous session's 2-1/2 week low today. Spot gold was $1,188.46 an ounce at 7:19 a.m., little changed from late yesterday, while U.S. gold futures for June delivery were up 40 cents at $1,188.50.
Crude oil prices rose more than 1 percent today after U.S. inventories fell for a fourth straight week. July Brent was up 90 cents at $63.48 a barrel by 7:40 a.m.. U.S. crude reached an intraday high of $58.72 a barrel, up $1.04.
OTHER MARKETS:
The European markets are retreating today, remaining on course for a weekly loss, as mixed messages about Greece's debt talks added fuel to investor anxiety.