US STOCKS-Wall St lower on weak GDP data, rate hike hints

jueves 29 de octubre de 2015 10:12 GYT
 

* Allergan says in buyout talks with Pfizer; shares halted

* GoPro, Deutsche Bank sink after results

* U.S. GDP growth below forecast

* Indexes down: Dow 0.28 pct, S&P 0.29 pct, Nasdaq 0.50 pct (Updates to open)

By Abhiram Nandakumar

Oct 29 (Reuters) - Wall Street was lower on Thursday as investors digested weaker-than-expected U.S. economic growth in the third quarter and the Federal Reserve's hints of a possible rate hike in December.

The Fed, which kept rates unchanged at its policy meeting that ended Wednesday, downplayed concerns about global growth and indicated confidence in the U.S. job market's recovery and the economy's capacity to absorb a rate increase.

Data on Thursday underscored the strength in the labor market, showing that new applications for unemployment benefits remained near levels last seen in 1973.

U.S. GDP growth braked sharply in the third quarter but economists said they expect growth to pick up in the current quarter given strong domestic fundamentals.   Continuación...