For Investors Only; Initial Jobless Claims So-So; GDP Rises But Details Not Encouraging

Disclaimer: this is not an investment site. Do not make investment decisions based on what you read here or what you think you may have read here.

Ten companies announce increased dividends/distributions.

WPX Energy misses by $0.36: Reports loss of $0.57 per share, $0.36 worse than the Capital IQ Consensus Estimate of ($0.21).

• Third-quarter 2013 results were negatively impacted by overall lower price realization (including hedges) for natural gas, a $19 million impairment charge related to the company's costs of acquired unproved reserves, a $9 million tax provision related to the increase in a valuation allowance on certain state deferred tax assets, a $7 million litigation accrual and a $6 million impact from changes to Argentine tax law affecting WPX's investment in Apco Oil and Gas International.

Futures: wow, crude oil is up again, and the broader market looks to hold its gains from yesterday and start off with a bang. Wow. Perhaps this is the reason: the European Central Bank cut interest rates to a record low earlier today, responding to a slump in inflation way below its target that has sparked fears the euro zone's economic recovery could stall. More easy money.

************************

Okay, finally it's here, trickling in, Reuters is reporting:

Stock index futures briefly trimmed gains on Thursday after data showed the U.S. economy grew faster than expected in the third quarter and initial claims for state unemployment benefits fell last week, mostly in line with expectations. 

Expanding, Reuters continues:

Gross domestic product expanded at a 2.8 percent annual rate, the quickest pace since the third quarter of 2012, the Commerce Department said on Thursday. It was an acceleration from a 2.5 percent clip in the second quarter and beat economists' expectations for a 2.0 percent rate.

But details suggest things are weaker than the 2.8 rate would suggest.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, expanded at a 1.5 percent rate, slowest pace since the second quarter of 2011. It grew at a 1.8 percent rate in the April-June period.

Some of the slowdown in consumption is blamed on weak demand for utilities because of unseasonably cool weather in the summer. But households have also been wary of loosening their purse strings as the pace of job gains slowed significantly during the quarter.

Jobless claims:

Initial claims for state unemployment benefits fell 9,000 to a seasonally adjusted 336,000 last week. Economists polled by Reuters had expected first-time applications to fall to 335,000 last week.