Saturday, 28 January 2017

Wall Street slips after soft GDP data, earnings

US stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 percent annual rate, below the 2.2 percent rise expected by economists and the 3.5 percent growth pace logged in the third quarter. 

Chevron fell 2.4 percent to USD 113.79 after its quarterly profit fell short of analysts' expectations. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes. The S&P energy index , down 0.9 percent, was the worst performing of the 11 major S&P sectors.

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