Stocks set for a mildly higher open as all eyes on GDP

U.S. stocks are poised for mildly positive open Thursday morning following Wednesday's selloff as a result of a surprise decline in home sales. However, mood is bound to be affected by the release third quarter gross domestic at 8:30 a.m., an hour before the opening bell.

While economists look for GDP to show the economy grew 3.2 percent, ending a four-quarter streak of contraction and indicating the recession has ended, many worry about the strength of the recovery.

[Update 9:00 a.m.: The economy grew at a 3.5% pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. Futures got a boost from the reading.]

More here: Before the bell: Stock futures higher ahead of GDP data