Stock Futures Flat Ahead of Consumer Data
Spanish gross domestic product contracted less than previously forecast in the first quarter, down 0.3% and unchanged from the preceding three months, according to the National Statistics Institute in Madrid. On April 23, the Bank of Spain had announced a decline of 0.4%. The National Statistics Institute also said that GDP fell 0.4% from a year ago in the first quarter.
"This behavior was due to the negative contribution by domestic demand, partly compensated by the positive contribution of foreign demand," the Institute said in a press release.
Japan's Nikkei Average finished down 0.4% and Hong Kong's Hang Seng added 1.7%.
In corporate news, Microsoft(MSFT) has agreed to make a $300 million investment for a 17.6% stake in a new Barnes & Noble( BKS) subsidiary that will bring together the bookseller's digital and college businesses. Barnes & Noble shares were nearly doubling in premarket action.
Also, NYSE Euronext(NYX) said its first-quarter adjusted earnings declined 32%. The exchange saw a slowdown in trading, particularly in its derivatives trading unit, and was hit by costs associated with its failed merger with Germany's Deutsche Boerse. Adjusted profit in the quarter was 47 cents a share; analysts were looking for 48 cents.
Warner Chilcott( WCRX ) , the drug maker, is weighing options including a possible sale after receiving interest from strategic and private-equity buyers, according to people with knowledge of the matter, Bloomberg reported.
In commodity markets, the June crude oil contract was off 69 cents and trading at $104.24 a barrel. June gold futures were down $2.20 to $1,662.60 an ounce.
The benchmark 10-year Treasury was rising 5/32, diluting the yield to 1.923%. The dollar was rising by 0.2% against a basket of currencies, according to the dollar index.