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Wall Street Edges Lower On GDP Data

2013-01-30 10 Dailymotion

<p>U.S. stocks edged lower at the open on Wednesday (January 30) following an unexpected contraction in fourth-quarter economic activity, but losses were curbed by gains in Internet retailer Amazon.com.</p><br /><p>The Dow Jones industrial average dropped 11.13 points, or 0.08 percent, to 13,943.29. The Standard & Poor's 500 Index shed 1.34 points, or 0.09 percent, to 1,506.50. The Nasdaq Composite Index gained 1.48 points, or 0.05 percent, to 3,155.14.</p><br /><p>U.S. gross domestic product fell 0.1 percent, far below expectations for growth of 1.1 percent. However, a read on private sector employment topped forecasts, with the ADP National Employment report showing 192,000 jobs added in January, higher than the 165,000 expectation.</p><br /><p>(VIDEO COURSE: REUTERS)</p>

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