S&P, Dow futures edge higher ahead of GDP data; Nvidia slides

(Reuters) – Futures tracking the Dow and S&P 500 rose on Thursday, ahead of data that will likely offer clues on how the U.S. economy fared amid persistently high inflation, while shares of Nvidia fell after the chipmaker’s dismal outlook. The Commerce Department will release its second take on first-quarter GDP at 08:30 a.m. ET. The numbers are expected to show a slightly shallower 1.3% contraction than the 1.4% quarterly annualized drop originally reported in April. The report will come a day after the minutes of the Federal Reserve’s May meeting showed policymakers noted the U.S. economy re…

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