IANS | 28 Jan, 2012
US stocks ended mixed Friday as investors weighed conflicting economic data against the ongoing Greek debt swap talks.
The Dow Jones industrial average lost 74.17 points, or 0.58 percent, to 12,660.46. The Standard & Poor's 500 was down 2.11 points, or 0.16 percent, to 1,316.32. The Nasdaq Composite Index gained 11.27 points, or 0.40 percent, to 2,816.55, Xinhua reported.
Friday's economic data was mixed. The US Commerce Department said before the opening bell that the country's gross domestic product (GDP) rose 2.8 percent in the fourth quarter of 2011, the highest for the year but still below the expectation of 3 percent.
Meanwhile, investors were optimistic about the ongoing debt swap talks between Greece and its private creditors, hoping they can reach a deal before Monday.
In afternoon trading, Fitch Ratings cut the credit ratings of Italy, Spain and three other euro zone nations Friday, citing they lack financing flexibility in the face of the region's debt crisis, but the news failed to move the market.
Traders' attentions were caught on the rumour that Facebook could file for an initial public offering (IPO) as early as next Wednesday at a valuation of $75-100 billion.
