The preliminary reading for first-quarter GDP came in above expectations
Dow Jones Industrial Average (DJIA) futures are trading below fair value this morning, threatening the Dow's six-session win streak. Investors are digesting this morning's update on first-quarter gross domestic product (GDP), which showed the U.S. economy growing at a rate of 1.2% for the period, versus an earlier estimate of 0.9%. Also,
oil prices continue to decline following this week's Organization of the Petroleum Exporting Countries (OPEC) meeting. At last check, July-dated crude futures were down 0.8% at $48.52 per barrel.
Meanwhile, across the Atlantic, President Donald Trump will be attending a Group of Seven meeting in Italy, while back at home traders are considering the latest
retail earnings from names like Costco Wholesale Corporation (NASDAQ:COST) and GameStop Corp. (NYSE:GME). After a strong week, though, stocks look set to cool, with the
S&P 500 Index (SPX) and
Nasdaq Composite (COMP) both pointed lower before the opening bell.
Continue reading for more on today's market, including:

5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1 million call contracts traded on Thursday, compared to 595,306 put contracts. The resultant single-session equity put/call ratio moved down to 0.59, while the 21-day moving average stayed at 0.63.
- Costco stock could take aim at record highs this morning, up 1.6% ahead of the open, after the company reported better-than-expected first-quarter earnings. A number of analysts have since weighed in, including a price-target increase to $195 at Credit Suisse. COST shares closed Thursday at $174.73, up nearly 22% over the past 12 months.
- Nutanix Inc (NASDAQ:NTNX) is surging 15% ahead of the market open, thanks to the company's strong fiscal third-quarter revenue and upbeat outlook for the current quarter. This move falls right in line with Goldman Sachs' bullish prediction for NTNX stock.
- Cosmetics retailer Ulta Beauty Inc (NASDAQ:ULTA) could be another post-earnings winner today, with the shares up 3.4% before the bell. The company topped analysts' earnings expectations -- but while a handful of brokerages raised their price targets this morning, ULTA shares were downgraded to "neutral" from "buy" at Buckingham Research.
- May consumer sentiment stats and data on durable goods orders come out today. Next week, investors will be keying in on the nonfarm payrolls report for May.

Overseas Trading
It was a mostly higher finish in Asia today. South Korea's Kospi outperformed its regional peers, tacking on 0.5% on a boost from Samsung. China's Shanghai Composite edged up 0.08%, while Hong Kong's Hang Seng eked out a 0.03% gain. Japan's Nikkei, however, closed down 0.6% on a strengthening yen.
Most European stocks are trading lower at midday, as auto and bank stocks retreat. At last check, Germany's DAX is down 0.7%, as auto shares drop following a report in Der Spiegel that President Donald Trump said he plans to "stop" the sale of "millions" of German cars in the U.S., and the French CAC 40 is off 0.9%. London's FTSE 100 is holding onto a 0.06% lead, after earlier hitting a record high.