S&P500 dynamic ahead of the market opening
The US published its GDP report for the first quarter. The data is strong, but ambiguous. GDP advanced by 6.2% on a yearly basis, proving the highest forecasts. However, the GDP deflator surged by 4.1%. This is a real alarm signal for the US Fed.
At the same time, the US labor market report disclosed that the number of the first-time claims increased by 553 thousand like in the previous week. At the same time, the number of continuing claims dropped by 14 thousand to 3.660 million.