Indices End Mixed on Friday After GDP and Consumer Spending Data

On Friday most were focused on reports that economic growth in the US was 2.5% for the first quarter, compared to 0.4% at the end of 2012. Even though this is an improvement, analysts had predicted a GDP of 3.2%. Government spending also dropped during Q1 and is likely to continue to decline due to the sequester. In corporate news, Chevron (CVX) announced a drop in revenue but beat estimates while Burger King (BKW) beat profit but missed on revenue. Despite a volatile start to the week, Apple (AAPL) rallied on Friday with a 7% total gain that caused the company to end the week above $400.

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Published on Apr 26, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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