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January 30, 2013 at 08:45 AM EST
Pre-Market Primer: US Economy Contracts Slightly; Private Sector Job Growth Exceeds Expectations
After nearing all-time highs yesterday stock futures are up slightly on a day packed with economic headlines. The US economy shrank by 0.1% in the fourth quarter of 2012 according to the government's preliminary estimate. Though growth was expected to be weaker about 1.1% after growing 3.1% in the third quarter this contraction was not expected. GDP estimates will be revised twice between now and March. In a preview for the big jobs report on Friday ADP a major payroll processor estimated that the US private sector added 192 000 jobs in January. This figure exceeded expectations of 173 ...
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