What you need to know before the US open
US GDP fourth quarter results showed the economy grew a bit more quickly than expected in the fourth quarter (by 2.6 per cent), bolstered by stronger consumer spending.
Futures were up ahead of the numbers, which will no doubt boost investor sentiment.
Separate data releases show that initial jobless claims fell to 311,000 in the week to 21 March, down from 321,000 – the best number since November.
Meanwhile, the Fed’s Pianalto has said the US economy’s still not “firing on all cylinders”.
And Vladimir Putin’s told the West that restricting Russians’ use of payment systems based in the US and Europe will backfire.
Earlier, the IMF agreed a $15-18bn rescue deal for Ukraine, as prime minister Arseny Yatseniuk warned that Ukraine "is on the edge of economic and financial bankruptcy", saying the price of gas supplied by Russia will go up to $480 per 1,000 cubic metres on 1 April.
Corporate news
Pharmaceutical company Merck & Co has said Robert Davis, Baxter International executive, is being appointed as its new chief executive, replacing Peter Kellogg.
Signet Jewelers, which owns Kay Jewelers, saw shares climb almost four per cent after forecasting more growth in same-store sales this fiscal year.
Lululemon, the Canadian sports clothing retailer, has reported flat fourth quarter profits at $109.7m, with net revenue up seven per cent year-on-year to $521m.
GameStop, the world’s largest video game product retailer, has reported a 3.4 per cent rise in fourth-quarter revenue, with new game consoles from Sony and Microsoft bumping up demand.
And Winnebago, the US’s largest motorhome maker, saw an impressive 53 per cent jump in quarterly profits.
Data in focus
• 2.00pm: US Feb pending home sales