Investors Shrug Off Disappointing Economic Data – Acadiana Business Index
- The Dow Jones gained 25 points to 13,230, the S&P 500 was up 3 points to 1403.46, and the NASDAQ added 19 points to close at 3069.
- The preliminary reading on U.S. first-quarter GDP fell short of expectations, while consumer sentiment topped projections.
- Although stocks were shaky in early trading, investors’ optimism grew throughout the day on positive corporate earnings.
- Homebuilders also pushed the sector higher as low interest rates and recent positive housing data encouraged investors.
For a complete report on Friday’s day on Wall Street, click Ken’s Market Report.