Stocks are pulling back from their early gains.  S&P futures vs fair value: -5.70 at  892.30. Spiders for S&P 500 (SPY) is one of the major laggards at the pre-market trading, down, 0.45%.

 Latest GDP data was released today at 8.30 am. First quarter GDP shrank 5.5%, better than the consensus estimation of 5.7%.

Meanwhile, jobless claims numbers came worse than expected, for the second consecutive month, at 627,000, up from the prior numbers of 608,000. Market reacted to the news in the pre-market trading.

European Bourses are under heavy selling pressure today. FTSE, DAX and CAC  are all trading with some sufficient losses, down 1.31%, 2.19% and 2.03% respectively.