US stock futures gain modestly ahead of GDP data

Associated Press

NEW YORK (AP) — U.S. stock market futures are gaining modestly ahead of a government report on economic growth.

Dow Jones industrial average futures are up 0.13 percent to 13,177. Standard & Poor's 500 futures are ahead 0.18 percent at 1,399 and Nasdaq 100 futures are adding 0.36 percent to 2,730.

Forecasters say the economy probably grew more slowly in the first three months than at the end of 2011. The Commerce Department is set to release first-quarter gross domestic product data at 8:30 a.m. Eastern.

In Europe, market gains are also subdued after S&P downgraded Spain's debt a second time. Germany's DAX is up 0.1 percent, France's CAC-40 is adding 0.3 percent and Britain's FTSE 100 is up 0.2 percent.

U.S. stocks to watch include Procter & Gamble, whose first-quarter profit dropped 16 percent.