U.S. markets down after fourth quarter GDP came in at 2.6% which did not meet analyst expectations of 2.7%. Which can possibly show the U.S. economy starting to slow down.
U.S. initial jobless claims fell 10,000 to 311,000 in the week ended March 22 vs. expectations of 325,000.
The technology and bio-technology sector pulled NasDaq down with their declines today as investors pulled back.
Pending Home Sales fell for the eighth-straight month though came in as expected at -0.8% vs prior -0.2%.
The Dow Jones Industrial Average slipped 4.76 points, or less than 0.1%, to 16264.23; it had been down as much as 77.20 points and up as high as 31.95 points during Thursday’s session. The S&P 500 lost 3.52 points, or 0.2%, to 1849.04.
Gold declines -0.03% to $1,294.40. Oil gains +0.07% to $101.35.
“At the same time, many investors see stocks in the S&P 500 as somewhat expensive compared with earnings, further reducing the incentive to put new money to work.” (Kilgore 2014, Wall Street Journal)