US STOCKS-Wall St little changed after GDP data; UMich on tap

viernes 27 de febrero de 2015 10:41 GYT

* Fourth-quarter GDP growth revised downward

* Consumer sentiment data on tap

* J.C. Penney tumbles after earnings

* Indexes off: Dow 0.08 pct, S&P 0.01 pct, Nasdaq 0.02 pct (Updates to market open)

By Chuck Mikolajczak

NEW YORK, Feb 27 (Reuters) - U.S. stocks held near the unchanged mark shortly after the open on Friday, following data on economic growth and ahead of a report on consumer sentiment.

Gross domestic product expanded 2.2 percent in the fourth quarter, revised down from 2.6 percent estimated last month, the Commerce Department said on Friday. The economy grew at a 5 percent rate in the third quarter.

"It was basically as expected, but it certainly shows weak growth in the quarter." said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

Each of the three major indexes was on track for a fourth straight week of gains, although the weekly climb has been slight, with the Dow and S&P 500 near record highs and the Nasdaq within striking distance of the 5,000 level.   Continuación...