Stock Market Today: Dow Jones, S&P 500 Futures Gain As Trump Weighs 'Short And Powerful' Iran Strikes— Alphabet, Meta, Amazon In Focus (UPDATED)

(Editor’s note: The future prices of benchmark tracking ETFs, the lede, the economic data and the headline were updated in the story.)
U.S. stock futures shed earlier losses to advance on Thursday morning, following Wednesday's largely lower close as only tech stocks ended on a positive note.
Investors digested a fresh batch of economic data on Thursday. The advance estimate for first-quarter real GDP showed the economy expanding at a 2.0% annualized rate. Meanwhile, inflation metrics ran hot, with the first-quarter headline Personal Consumption Expenditures (PCE) price index accelerating to 4.5% and the core PCE index rising to 4.3%.
On the labor front, the Employment Cost Index rose 0.9% for the first quarter, while initial jobless claims for the week ending April 25 fell by 26,000 to a