Futures are getting smacked


Stock futures are weaker on Thursday ahead of some key economic data.

Near 7:48 a.m. ET, Dow futures were down 145 points, S&P 500 futures were down 15 points, and Nasdaq futures were down 17 points — all by less than 1%.

Stocks closed almost flat on Wednesday, but the Nasdaq was the weakest of the major indexes after soft earnings from Apple and Twitter.

To recap the big news of the day so far, the Bank of Japan shocked markets after it held off on adding stimulus to the economy.

Mike van Dulken at Accendo Markets commented in a note, “This has undone all of the supportive work and positive response from what its US counterpart (the Fed) had to say yesterday evening where a solid balancing act of less worries about external headwinds offsetting weaker US data allowed it to maintain its dovish stance.”

The yen surged after the BOJ’s decision, hitting as low as 107.93 against the dollar (or -2.9%.)

At 8:30 a.m. ET, the advance estimate of first-quarter GDP will be released, as well as initial jobless claims.

NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy