Gustav, GDP, & Initial Jobless Claims

Good morning. Much like what we saw yesterday, the morning's economic data has helped premarket sentiment in spite of higher oil prices due to Gustav.

Both the second quarter GDP (which was revised higher) and initial jobless claims (which fell from the prior week) pushed premarket futures higher. In addition, a few positive reports from a couple of retailers and news that MBI has booked a deal to reinsure $184 billion of FGIC's public bond portfolio have ignited some interest from traders in both sectors.

Premarket gainers: MBI, ABK, PMI, TMA, FRE, FNM, MW, SEED, JAS, DSW, TIF, ENER, AMLN, GFI, ALU, GEF, ROYL, & PDO.

Premarket losers: FCEL, CELL, CHA, CHU, CHL, GA, WSM, CWTR, UAUA, GILD, TIVO, EMKR, ACH, CAL, SNP, & LCC.

There's no economic data due out today but I suspect traders will be wanting to see what Dell has to say about the technology sector when it reports after the closing bell.

Go make it a great day!