Economic Data Scheduled For Thursday

Gross Domestic Product report for the first quarter is scheduled for release at 8:30 a.m. ET. The second estimate for first-quarter GDP is expected to show a 1.3% contraction versus the first estimate's 1.4% contraction.
Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims declining to 208,000 for the May 21 week from 218,000 in the previous week.
Data on corporate profits for the first quarter will be released at 8:30 a.m. ET.
The pending home sales index for April is scheduled for release at 10:00 a.m. ET. Pending home sales have recorded five consecutive declines, with analysts expect another drop of 1.5% in April.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
The Kansas City Fed manufacturing index for May is scheduled for release at 11:00 a.m. ET. Analysts expect the Kansas City manufacturing index increasing to 32 in May after slowing 14 points to a reading of 25 in April.
The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
The Treasury will auction 7-year notes at 1:00 p.m. ET.