Stocks fell today after the advance estimate for first-quarter
GDP came in lower than anticipated. Also, consumer sentiment
weakened in April. The
(INDEXDJX:.DJI) decreased 0.03% to 14,696.11. The
(INDEXSP:.INX) dropped 0.42% to 1,578.45, and the
(INDEXNASDAQ:.IXIC) fell 0.61% to 3,269.82.
The Bureau of Economic Analysis reported today its advance estimate
for real gross domestic product, or GDP. According to the first
estimate, GDP grew at an annual rate of 2.5% from the fourth
quarter of 2012 to the first quarter of 2013. Personal consumption
expenditures, exports, residential investment, and nonresidential
fixed investment contributed to GDP while federal, state, and local
government spending contributed negatively to the estimate.
Imports, which subtract from GDP, grew in the first quarter. The
second estimate will be released on May 30. Read the full report
The Institute for Social Research of the University of Michigan and
Thomson Reuters reported today that its
Consumer Sentiment Index
fell to a three-month low of 76.4 in April from 78.6 in March. The
final number surpassed the preliminary April reading of 72.3.
) spiked 8.92% to $16.60. George Soros reported yesterday that he
has a 7.9% stake in the retailer.
) plunged 7.24% to $254.81. Yesterday, the world's largest online
retailer reported a first-quarter net income of $82 million, or
$0.18 per share, compared to $130 million, or $0.28 per share, in
the prior-year quarter, a 37% decline. Amazon reported operating
income of $181 million, and sales rose 22% from the prior-year
quarter to $16.1 billion.
) fell 1.26% to $29.88. The European Medicines Agency's Committee
for Medicinal Products for Human Use rejected Pfizer's new
rheumatoid arthritis treatment Xeljanz yesterday. Pfizer will
appeal and "immediately seek a re-examination of the opinion."
) rose 1.02% to $412.55.
) increased 3.34% to $20.25.