Weighed Down by Disappointing Q4 GDP, U.S. Stocks Decline
U.S. stocks edged lower in morning session on Friday after disappointing fourth-quarter data on domestic economic growth published before the market open.
The S&P 500 index lost more than 0.1% but remained near its all-time high set on Wednesday.
According to the Commerce Department, the U.S. economy expanded at a slower-than-expected speed in the fourth quarter which sent annual growth below 3% for an 11th straight year. Gross domestic product’s expansion reached 1.9% in the three-month period to December. The reading was much lower than a 3.5% growth rate in the third quarter and a 2.2% estimated by analysts.
Consumer staples, real estate and energy shares were leading losses, while health care and information technology topped the market.
Sell Stop at 2290.00, Take profit 2285.00, Stop loss at 2293.00