US STOCKS-Wall Street mixed; Procter and Whole Foods slide
* U.S. economic growth picked up in second quarter
* Facebook, Whole Foods fall after results
* US quarterly earnings over half way through
* Dow down 0.08 pct, S&P down 0.07, Nasdaq up 0.34 pct (Updates to afternoon)
By Noel Randewich
July 30 (Reuters) - The S&P 500 was on track for its flattest session in two weeks on Thursday as investors digested ho-hum corporate earnings and new data showed that the economy grew more quickly in the second quarter.
Procter & Gamble, Facebook and Whole Foods Market all fell after quarterly reports that left investors wanting more.
U.S. economic growth accelerated in the June quarter as solid consumer spending offset a drag from weak business spending on equipment, suggesting steady momentum that could bring the Federal Reserve closer to hiking interest rates this year.
With a mixed bag of corporate earnings over halfway through second-quarter reporting season and a sharp focus on when the Federal Reserve will begin raising interest rates from nearly zero, investors on Thursday saw few reasons to pay more for shares. Continuación...