US stocks trade lower amid GDP data

New York, Jan 28 (IANS) US stocks traded mostly lower as investors mainly focused on key economic data and technical corporate earnings.

The Dow Jones Industrial Average on Friday shed 13.59 points, or 0.07 per cent, to 20,087.32, Xinhua news agency reported.

The S&P 500 lost 2.77 points, or 0.12 per cent, to 2,293.91. The Nasdaq Composite Index ticked down 1.07 points, or 0.02 per cent, to 5,654.10.

US real gross domestic product (GDP) increased at an annual rate of 1.9 per cent in the fourth quarter of 2016, according to the “advance” estimate released by the Commerce Department on Friday.

Earlier this week, the Dow Jones Industrial Average closed above the psychological mark of 20,000 points for the first time ever, while the other two major indices also finished at record highs, boosted by a batch of generally positive earnings reports.

–IANS

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