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First Reading 1Q GDP Estimate +2.5%

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  • Description

    FBN’s Diane Macedo with a morning futures outlook ahead of GDP readings for the first-quarter.

  • Duration 1:13
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Good morning everyone look at our first look at US growth for the first quarter in about ten minutes the reading on gross domestic product is expected to -- -- At two and a half percent down from the fourth quarters 3% growth.

Economists cite a slowdown in businesses replenishing their inventories.

A little lower forecasts they say stronger demand for cars and a boost to home building.

Due to the warm weather will likely prevent a further decline that number that at 8:30 eastern time though we'll have it for you as soon as it crosses.

Meanwhile shares of Amazon -- out more than 16%.

In premarket trading after the company reported better than expected first quarter results.

The Internet retailer posted a profit up 28 cents a share down 35%.

From a year ago.

But well above the seven cents analysts were looking for revenue rose 34% from last year to thirteen point two billion dollars also topping expectations.

Amazon says the decline in profits was due to continuing investments let me shipping centers and -- -- tablet.

The company says that device was its best selling item in the quarter and helped lift revenue for digital movies and books.

Now let's take a quick look at futures and then over at comic same for some more of the morning's headlines icon --

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