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U.S. stock futures slumped after the government released data on gross domestic product and jobless claims before Thursday's opening bell.
Exxon Mobil reported a 69% jump in first-quarter profit of $10.7 billion. Investors weren't all that impressed.
Investors sent all three indexes to fresh multi-year highs Wednesday after Fed chief Ben Bernanke's first press conference.
Economy: On Thursday, the Department of Commerce released its report on first-quarter gross domestic product, showing that GDP expanded at an annual rate of 1.8% during the first quarter.
The government also reported its weekly initial jobless claims data. The Labor Department reported that jobless claims totaled 429,000 last week. Economists expected them to fall to 390,000. It also marked the third week in a row that jobless claims came in above the key 400,000 level.
Later in the morning, a report from the National Association of Realtors is expected to show a 1.7% rise in pending home sales for the month of March.
Companies: Procter & Gamble (PG, Fortune 500) reported an increase in quarterly net profits and sales but still disappointed investors. The company's stock slipped nearly 2% in premarket trading.
PepsiCo (PEP, Fortune 500) and Sprint Nextel (S, Fortune 500) also reported quarterly results before the market open. Pepsi's stock was flat in premarket trading while Sprint's stock rose about 3%.
After the closing bell, analysts expect Microsoft to post a quarterly profit of $4.8 billion, up 20% from a year earlier, on sales of $16.2 billion.
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