Major U.S. stocks fell on Friday after weak GDP and consumer sentiment data added to investor concerns about the strength of the economy. The latest data showed the economy contracted at a 0.7 percent annual rate in the first quarter, a sharp turnaround from an earlier estimate of a 0.2 percent growth pace issued last month. Economists had expected GDP would be revised to show a contraction of 0.8 percent. Consumer sentiment fell in May, a survey by the University of Michigan showed, while the Institute for Supply Management-Chicago Business Barometer unexpectedly fell in May.
Almost all of Dow stocks in negative area (24 of 30). Top looser - The Boeing Company (BA, -1.12%). Top gainer - Intel Corporation (INTC, 1.35%).
All of S&P index sectors also in negative area. Top looser - Industrial goods (-0.8%).
At the moment:
Dow 18013.00 -121.00 -0.67%
S&P 500 2109.25 -12.50 -0.59%
Nasdaq 100 4520.50 -22.25 -0.49%
10-year yield 2.10% -0.03
Oil 59.59 1.91 3.31%
Gold 1189.80 1.00 0.08%