U.S. stocks fall despite strong GDP data

10:07, January 30, 2010      

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The U.S. stocks fell on Friday, although the country's GDP report for the fourth quarter of last year was much better than expected.

Economists expect that the U.S. economic growth rate will cool later this year. Disappointing earnings of some major companies also drove the stocks lower.

The Dow Jones industrials fell 53.13 points, or 0.52 percent, to close at 10,067.33. The Standard & Poor's 500 index fell 10.66 points, or 0.98 percent, to 1,073.87. The Nasdaq composite index fell 31.65 points, or 1.45 percent, to 2,147.35.

Source:Xinhua
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