Stock futures have turned lower after Q1 GDP was revised down to an astonishing -2.9%.
Dow futures are down 37 points, S&P 500 futures are down 3.5 points, and Nasdaq futures are down 9 points.
The Bureau of Economic Analysis said that Q1 GDP fell at a 2.9% annualized rate, lower than the previous estimate of -1%. Personal consumption growth in Q1 was also revised down to 1% from 2.4%.
Also in economic news, durable good orders in May fell 1% against expectations for no growth.
One of the biggest movers following the poor GDP report was the U.S. dollar, which weakened notably against the Japanese Yen to below ¥102. The dollar also weakened against the Euro, which now buys $US1.365 against $US1.36 earlier this morning.