US STOCKS-S&P 500 flat after GDP, but Visa lifts Dow

jueves 30 de octubre de 2014 11:10 GYT
 

* Visa, MasterCard both rally after results

* Third-quarter GDP tops expectations

* Energy shares fall alongside drop in crude prices

* Dow up 0.6 pct, S&P 500 flat, Nasdaq down 0.1 pct

By Ryan Vlastelica

NEW YORK, Oct 30 (Reuters) - U.S. stocks were mostly flat on Thursday, as a strong read on third-quarter economic growth raised new questions about monetary policy, but results at Visa single-handedly put the Dow in solidly higher territory.

Gross domestic product grew at a 3.5 percent annual rate in the third quarter, beating expectations, though down from the 4.6 percent rate in the second quarter.

The data came a day after the Federal Reserve ended its stimulative bond-buying program, leading investors to look to when the central bank will begin raising interest rates. The Fed has said its first rate hike would be dependent on the strength of economic data.

"A strong report, on the heels of a more hawkish tone from the Fed yesterday, has some investors thinking we could see a rake hike faster than might otherwise have been hoped," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland. "That's dampening the spirits of investors who were hoping for easier monetary conditions for an extended period."   Continuación...