US STOCKS-Wall St lower after first-quarter GDP contraction
* Q1 GDP data shows economy contracted
* Consumer sentiment fell in May
* Intel biggest boost to Dow, S&P
* United Rental falls after BofA downgrade
* Indexes down: Dow 0.58 pct, S&P 0.47 pct, Nasdaq 0.43 pct (Adds quote, updates prices)
By Sweta Singh
May 29 (Reuters) - U.S. stocks extended their losses in late morning trading on Friday after weak GDP and consumer sentiment data added to investor concerns about the strength of the economy.
The latest data showed the economy contracted at a 0.7 percent annual rate in the first quarter, a sharp turnaround from an earlier estimate of a 0.2 percent growth pace issued last month.
Economists had expected GDP would be revised to show a contraction of 0.8 percent. Continuación...