The S&P 500 futures are down 3 points and are trading roughly in line with fair value.
The Nasdaq 100 futures are down 3 points and are trading slightly above fair value.
The Dow Jones Industrial Average futures are down 29 points and are trading slightly below fair value.
Q3 GDP was revised up to 2.9% from the advance estimate of 2.6%. The GDP Price Deflator was also revised up to 4.3% (consensus 4.1%) from the advance estimate of 4.1%.
The key takeaway from the report is that growth was better than expected and inflation was higher than first thought.
Treasury yields shot higher immediately after the Q3 GDP release.
The 2-yr note yield, at 4.47% a short time ago, is up seven basis points to 4.53%.
The 10-yr note yield, at 3.72% a short time ago, is up three basis points to 3.77%.