The day ahead: Thursday

October 28, 2009

Gross domestic product data for the third quarter should show that the U.S. economy resumed growing after a year of decline as consumers spent more and investment in home-building bounced back.

*  Shorter term indicators could also provide a lift for markets looking for signs of growth. Weekly jobless claims are expected to have edged down by 10,000 to 521,000 in the latest week.

*  A rare earnings miss a quarter ago will have investors and analysts keying on profits from oil giant Exxon Mobil, but rebounding global oil prices are likely to boost profits at the world’s largest publicly traded company.

*  Investors will get a closer look at consumer demand when Procter & Gamble and Colgate-Palmolive issue their quarterly results.

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