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GDP data jolts market; stocks end flat | The Honolulu Advertiser | Hawaii's Newspaper

Updated at 12:40 p.m., Thursday, May 31, 2007

GDP data jolts market; stocks end flat

Associated Press

Wall Street ended mostly flat Thursday after a weak reading of the nation's gross domestic product offset continued takeover news and strong earnings that had fueled stocks for most of the session. The Commerce Department's latest estimate of first-quarter GDP was 0.6 percent, lower than the average economist estimate of 0.8 percent and the 1.3 percent the government projected in April. The data jolted the market, and stopped an advance spurred by Wachovia Corp.'s $6.8 billion acquisition of brokerage A.G. Edwards & Co..

  • The Dow fell 5.44, or 0.04 percent, to 13,627.64.

  • The Standard & Poor's 500 index gained 0.39, or 0.03 percent, to 1,530.62.

  • The Nasdaq composite index added 11.96, or 0.46 percent, to 2,604.55.

    For the week:

  • The Dow is up 120.36, or 0.89 percent.

  • The S&P is up 14.89, or 0.98 percent.

  • The Nasdaq is up 47.36, or 1.85 percent.

    For the year:

  • The Dow is up 1,164.49, or 9.34 percent.

  • The S&P is up 112.32, or 7.92 percent.

  • The Nasdaq is up 189.26, or 7.84 percent.
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