US STOCKS-Wall St little changed as GDP offsets jobs data
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By Rodrigo Campos
NEW YORK, April 30 (Reuters) - U.S. stocks were little changed on Wednesday after data showed the economy grew at a sharply lower-than-expected pace in the first quarter, but gains in private payrolls kept the market near break-even.
Gross domestic product expanded at a 0.1 percent annual rate, the slowest since the fourth quarter of 2012, as exports and inventories weighed, but activity already appears to be bouncing back. It was a sharp pullback from the fourth quarter's 2.6 percent pace.
U.S. private employers, however, beat expectations by adding 220,000 workers in April, the highest amount since November, and gains in the prior month were revised up. Chicago business activity also rose more than expected in April, jumping to its highest since October 2013.
Despite the large miss on GDP, the S&P 500 remained within 1 percent from its record closing high set early this month. Continuación...