The GDP report had a limited effect on futures. The market is mainly waiting for the Fed meeting and I expect to see a 50 bp rate cut. How the market reacts is still going to be interesting, as this is largely expected.
Tonight I'm looking to play the AMZN earnings report by using options to obtain a Straddle position. With most Fed meetings, we get a whiplash effect after the announcement is made, so hopefully I'll be able to pick up some cheap puts when the market rallies, and some cheap calls when the market drops. As always, depends if the conditions are correct - if I don't see any opportunity to establish both positions I won't be participating at all.
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