US STOCKS-Wall St up as weak GDP spurs hope of slower rate hikes

viernes 29 de enero de 2016 10:46 GYT

* Q4 U.S. GDP misses estimate

* Amazon sinks after profit misses expectations

* Xerox up after deal with Icahn to split into two

* Indexes up: Dow 0.77 pct, S&P 0.65 pct, Nasdaq 0.47 pct (Updates to open)

By Abhiram Nandakumar

Jan 29 (Reuters) - Wall Street was higher on Friday after weak GDP data raised expectations that the U.S. Federal Reserve would go slow on future interest rate hikes.

U.S. gross domestic product rose 0.7 percent in the fourth quarter, below the 0.8 percent expected, as a strong dollar and tepid global demand hurt exports.

Intervention by central banks has become key to supporting turbulent markets, roiling under slowing global economic growth. The Bank of Japan cut a key interest rate below zero on Friday to spur its flagging economy.

While the Fed has not ruled out another rate hike in March, the current turmoil could force it to wait until June.   Continuación...