US STOCKS-Wall St lower after GDP data shows contraction

viernes 29 de mayo de 2015 10:10 GYT

* Q1 GDP data shows economy contracted

* Corporate earnings post biggest fall in a year

* United Rental down 3 pct, weighs on industrials

* Altera near 15-year high of report of Intel interest

* Indexes down: Dow 0.28 pct, S&P 0.19 pct, Nasdaq 0.12 pct (Updates prices)

By Sweta Singh

May 29 (Reuters) - U.S. stocks were lower in morning trading on Friday after data showed the economy shrunk in the first quarter and corporate profits declined the most in a year.

The U.S. government slashed its gross domestic product estimate to show GDP shrinking at a 0.7 percent annual rate instead of the 0.2 percent growth pace it estimated last month.

Economists had expected GDP would be revised to show a contraction of 0.8 percent.   Continuación...