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Dow slips on growth data
NEW YORK, U.S. markets turned lower Friday after the Bureau of Economic Analysis said the gross domestic product rose just 2.4 percent in the second quarter.
Economists say the growth rate barely puts the U.S. economy on track to break even on employment with the unemployment rate at 9.5 percent.
The figure follows a 2.7 percent growth rate in the first quarter. At 2.4 percent, the figure was slightly below expectations.
In late-morning trading, the Dow Jones industrial average lost 36.41 points, 0.38 percent, to 10,427.65. The Standard & Poor's 500 index lost 0.32 percent, 3.54, to 1,097.99. The Nasdaq composite index dropped 0.16 percent, 3.66, to 2,2,48.03.
The benchmark 10-year Treasury note rose 20/32 to yield 2.916 percent.
The euro fell to $1.3048 from Thursday's $1.3078. Against the yen, the dollar fell to 86.40 yen from Thursday's 86.84 yen.
In Japan, the Nikkei 225 index lost 1.64 percent, 158.72, to 9,537.30.
In Britain, the FTSE 100 index slid 1.05 percent, 55.93, to 5,258.02.
NEW YORK, U.S. markets turned lower Friday after the Bureau of Economic Analysis said the gross domestic product rose just 2.4 percent in the second quarter.
Economists say the growth rate barely puts the U.S. economy on track to break even on employment with the unemployment rate at 9.5 percent.
The figure follows a 2.7 percent growth rate in the first quarter. At 2.4 percent, the figure was slightly below expectations.
In late-morning trading, the Dow Jones industrial average lost 36.41 points, 0.38 percent, to 10,427.65. The Standard & Poor's 500 index lost 0.32 percent, 3.54, to 1,097.99. The Nasdaq composite index dropped 0.16 percent, 3.66, to 2,2,48.03.
The benchmark 10-year Treasury note rose 20/32 to yield 2.916 percent.
The euro fell to $1.3048 from Thursday's $1.3078. Against the yen, the dollar fell to 86.40 yen from Thursday's 86.84 yen.
In Japan, the Nikkei 225 index lost 1.64 percent, 158.72, to 9,537.30.
In Britain, the FTSE 100 index slid 1.05 percent, 55.93, to 5,258.02.
