NEW YORK (AP) — Stock futures wavered Thursday after the U.S. reported data on jobs and economic growth that were much better than most economists had been projecting.
Weighing on markets, however, were telltale signs that illustrated just how hesitant Americans have become in spending money.
Dow Jones industrial futures fell 25 points to 15,861. S&P futures lost 1.9 points to 1,789.90. Nasdaq futures rose 3.75 points to 3,486.25.
The U.S. economy grew at its fastest rate since early 2012 from July through September, the Commerce Department reported in the second of three published estimates. But consumer spending, the gas pedal of the American economy, was near four year lows.
Economic growth was driven largely by a huge buildup in business stockpiles.
The same story is playing out in sales numbers released by retailers Thursday.
Sales at Costco stores that have been open at least a year came in more than a full percent below what Wall Street had expected and company shares slid in premarket trading.
Big store chains like Aeropostale are reporting losses for the quarter as they discount aggressively. L Brands, the owner of Victoria's Secret, Bath & Body Works and other retailers, said Thursday that comparable store sales dropped 5 percent last month.