Stocks waver as investors weigh earnings, economy

4/30/2014

Specialist Meric Greenbaum, center, works at his post on the floor of the New York Stock Exchange Wednesday, April 30, 2014. The stock market is edging lower Wednesday after the U.S. economy slowed more drastically in the first quarter than economists had believed. (AP Photo)

ASSOCIATED PRESS

NEW YORK — Stocks are mixed in midday trading as an unexpected slowdown in U.S. economic growth kept investors cautious.

Twitter slumped 10 percent after its customer growth didn’t live up to what the market was looking for.

The Standard & Poor’s 500 index was little changed at 1,878 as of noon today.

The Dow Jones industrial average edged up 13 points, or 0.1 percent, to 16,549. The Nasdaq composite fell seven points, or 0.2 percent, to 4,095.

U.S. economic growth stalled out at just 0.1 percent in the January-March quarter as record-cold temperatures slowed construction, hiring, and buying.

The Federal Reserve will release a statement following the conclusion of its two-day policy meeting at 2 p.m.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.66 percent.