Jul 30, 1:53 PM ET
Stocks on Wall Street edged lower after the initial estimate of the second quarter economic growth came in at 4%. Markets turned lower ahead of Fed statement in the next hour and corporate earnings were mixed. Twitter soared 21% on larger than expected advertising revenues.
Jul 30, 1:56 PM ET
The first estimate of the U.S. economic growth in the second quarter came in at 4%, reversing the revised contraction of 2.1% in the winter quarter. The increase in inventories, rising cosumer spending and expansion in government spending at all levels contributed to the surge in annual rate.