Market Watch: Stocks Waver After GDP Updates

U.S. stocks were flat on Thursday, as investors considered the latest GDP figures from the Commerce Department.

First-quarter GDP was revised to a figure of 0.6% growth—up from the previous reading of-0.2%. However, the widely-promised 2nd-quarter recovery did not come to fruition, as the number came in at 2.3% growth—falling short of expectations of a 2.6% growth figure.

Mixed earnings results from proctor & Gamble as well as Cigna contributed to the lackluster start to the day. Weekly jobless claims came in at 267,000, an increase of 12,000 claims from last week’s figure.

Yesterday, the Federal Reserve left interest rates unchanged in what many hoped would provide the highlight of the week on Wall Street. The consensus among most experts remains September for the first interest rate hike in 10 years.

Here are the final numbers from Thursday on Wall Street:

Dow Jones Industrial Average: 17,745.98 (-5.41)

NASDAQ: 5,128.79 (+17.05)  

S&P 500: 2,108.63 (+0.06)

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 1 hour ago
Phil Cannella

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