Stocks edge lower as economic growth disappoints

AP News
Posted: Apr 26, 2013 9:49 AM
Stocks edge lower as economic growth disappoints

NEW YORK (AP) — Stock indexes are edging lower in early trading on Wall Street after the government reported U.S. economic growth that wasn't as strong as economists had forecast.

The Dow Jones industrial average slipped two points to 14,694 shortly after the opening bell Friday.

The Standard & Poor's 500 index was down three points at 1,581, or 0.2 percent.

The Nasdaq composite was off eight at 3,281, or 0.3 percent.

The government reported that the U.S. economy expanded at an annual rate of 2.5 percent in the first three months of the year. That's better than the 0.4 percent growth rate in the final three months of last year, but not as strong as the market had been expecting.

Homebuilder D.R. Horton jumped 6 percent after reporting a surge in revenue.