New York, Jan 28 (IANS) US stocks traded mixed Friday amid news that the US economy grew slower than expected, and concerns over the ongoing Greece debt negotiations.
The Commerce Department reported that US gross domestic product (GDP) rose 2.8 percent in the fourth quarter of 2011, lower than the expected 3 percent, reports Xinhua.
Meanwhile, the consumer sentiment index rose to an 11-month high in January, climbing to 75, according to the University of Michigan.
Investors were also anxious about Greece’s ongoing negotiations with private sector creditors in order to reduce its debt.
On earnings front, Ford Motor Co. posted a fourth-quarter net income of $13.6 billion, which also fell short of analysts’ estimate.
The Dow Jones industrial average lost 81.97 points, or 0.64 percent, to 12,652.66. The Standard & Poor’s 500 was down 4.25 points, or 0.32 percent, to 1,314.22. The Nasdaq Composite Index gained 5.04 points, or 0.18 percent, to 2,810.27.