NEW YORK (AP) — Stocks are mostly lower on Wall Street after the U.S. economy didn’t grow as much as hoped and earnings from big companies failed to excite investors.
Economic growth accelerated to 2.5 percent in the first quarter, but that was below the 3.1 percent rate forecast by economists.
Goodyear Tire’s stock dropped Friday after its revenue fell short of what analysts expected. That’s developing into a common theme for companies reporting first-quarter results.
The Dow Jones industrial average edged up 11 points to 14,712, or 0.1 percent.
The Standard & Poor’s 500 fell three points to 1,582, or 0.2 percent. The Nasdaq lost 10 points to 3,279, or 0.3 percent.
Three stocks fell for every two that rose on the New York Stock Exchange. Volume was light at 3 billion shares.