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US futures sharply lower ahead of GDP report

February 19. 2013 2:02PM

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(AP) Stock futures are falling sharply before the government provides a peek at U.S. economic growth over the past three months.

There are also signs of unease in China, with evidence of a massive flow of money out of the country before a government power shift.

Dow Jones industrial futures are down 97 points to 12,959. The S&P futures have given up 10.5 points to 1,397.70. Nasdaq futures are down 11.5 points to 2,636.50.

The government will release a report an hour before the stock market opens Friday on the nation's gross domestic product for the third quarter. Economists expect growth but very little.

The group Global Financial Integrity, based in Washington, suggests Chinese investors evaded government controls to ship more than $600 billion out of the country last year, and that the pace is accelerating.

Associated Press

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