Stocks sank Friday following news that the U.S. economy shrank in the first three months of the year. The revised data showed that gross domestic product contracted 0.7 percent in the first quarter. That was worse than the government's initial estimate of growth of 0.2 percent.» Read More
Stocks are lower Friday, but remain on track for a positive month. Katie Nixon, Northern Trust Wealth Management, and Kristina Hooper, Allianz Global Investors, discuss their market forecasts.
CNBC's Steve Liesman breaks down the revision to U.S. first quarter GDP data.
CNBC's Rick Santelli reports the latest data with GDP and sustainable growth.
*Euro ahead on Greece hopes. NEW YORK, May 29- The dollar was mixed on Friday with month-end selling after a recent rally, as traders saw little in weak first-quarter U.S. gross domestic product data to discourage bets the Federal Reserve will start raising interest rates in 2015.. "Underlying sentiment remains positive but the dollar is seeing some profit taking...
First quarter Gross Domestic Product revised downward to -0.7% from +0.2%.
*U.S. first-quarter GDP shrinks at 0.7 pct annual rate. NEW YORK, May 29- U.S. "The market simply doesn't believe the data will be strong enough to let the Fed this year," said Aaron Kohli, interest rate strategist at BNP Paribas in New York.
Scott Wren, Wells Fargo, and David Woo, Bank of America Merrill Lynch, discuss volatility in the currency markets ahead of the Greece debt deadline and forecast jobs data and GDP.
A big government report out this morning but senior economics reporter Steve Liesman says the Street is taking it with a big grain of salt.
May 29- U.S. stocks opened marginally lower on Friday after data showed that the economy contracted slightly less than expected in the first quarter.
*Altera up on report of Intel takeover interest. May 29- U.S. stock futures were largely unchanged, keeping the market on course to open lower on Friday, after data showed that the economy contracted in the first quarter. "Monetary policy from the Fed is forward looking and GDP by definition is a rear view mirror and the important thing now is that it wasn't a big miss,"...
You need to cast a wider net when looking at these numbers, says Michael Gapen, Barclays U.S. economist, weighing in on the latest GDP revisions and provides insight to the economic landscape.
CNBC's Rick Santelli breaks down the latest data on U.S. economic growth. And CNBC's Steve Liesman provides perspective.
India's economy grew at a faster rate than its Chinese counterpart for a second straight quarter, but concerns remain over the government's new way of calculating its data.
May 29- U.S. stock index futures were lower on Friday amid worries about Greece's ability to strike a deal with its euro zone partners by Sunday and ahead of U.S. gross domestic product data. *Altera rose 6.2 percent to $49.90 in premarket trading after the New York Post reported that Intel was close to buying the chipmaker for about $15 billion.
Ylan Mui, financial reporter at the Washington Post, discusses the upcoming U.S. GDP data, jobless rates and the Federal Reserve's reaction to the data.
ZURICH, May 29- Switzerland's economy contracted in the first quarter, data showed on Friday, with strong household spending softening what would have been a bigger drop after the central bank allowed the franc to float freely against the euro. Gross domestic product fell by 0.2 percent in the first three months of 2015 compared to revised growth of 0.5 percent...
Despite hitting a two-week low against the U.S. dollar, the Indian rupee remains poised for a "real trade-weighted appreciation", says Mirza Baig, Asian currency strategist at BNP Paribas.
Mitul Kotecha, head of FX Strategy, Asia Pacific at Barclays, says markets have priced in a dismal first-quarter GDP print for the U.S. economy after the Fed's comments on negative "transitory factors."
Peter Schiff, CEO of Euro Pacific Capital, says factors such as an inventory overhang will weigh on the U.S. economy and that will prompt the Fed to roll out more quantitative easing.
Richard Iley, chief Asia economist at BNP Paribas and Jahangir Aziz, Head of EM Asia Economic Research at JP Morgan, outline their estimates for India's first-quarter gross domestic product.