Economics
Most U.S. Stocks Fall Amid GDP Report, Corporate Earnings
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Most U.S. stocks fell, with the Standard & Poor’s 500 Index paring a weekly gain, after data showed the world’s largest economy grew less than economists forecast amid disappointing earnings reports.
Equities trimmed steeper losses in the final hours of trading as technology shares rebounded. Hewlett-Packard Co. and Apple Inc. gained more than 1.9 percent. Amazon.com Inc. slid 7.2 percent after saying it may post an operating loss in the second quarter. Starbucks Corp. dropped 0.8 percent as it reported sales that trailed analysts’ estimates. J.C. Penney Co. jumped 12 percent as billionaire investor George Soros disclosed a stake in the retailer.