GDP 0.6, GM and PG Earnings; Stocks Up

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Market Update Analysis:

GDP 0.6%, GM and PG Earnings; Stocks Up

Author: 123jump.com Staff
123jump.com
Last Update: 9:25 AM EDT April 30 2008

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U.S. stocks edged higher on the release of first quarter GDP data. The economy in the quarter rose at annual rate of 0.6%, same rate as in the fourth quarter of 2007. Higher investment in inventory contributed to the mild gain. Citigroup revised its stock offering plan to $4.5 billion from $3 billion. General Motors reported narrower than expected loss. Procter & Gamble earnings rose 7.9% on rising demand in China, India and Latin America.

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