A.M. Update

S&P futures are up +0.35% (from flat at 8:00 a.m. ET) in response to this morning’s data. GDP was up 3.3% in the advance Q4 report (consensus 2.0%) after rising 4.9% in Q3. The GDP Price Deflator was up 1.5% in the advance Q4 report (consensus 2.8%) after rising 3.3% in Q3. Weekly initial jobless…