Disappointing GDP Data, Chevron Pressure Dow

Originally published on Fox Business. FOX Business: The Power to Prosper The blue chips were under pressure on Friday as traders reacted to disappointing earnings from energy giant Chevron and weaker-than-expected U.S. economic data. Today's Markets As of 12:00 p.m. ET, the Dow Jones Industrial Average fell 79.2 points, or 0.62%, to 12656, the S&P 500 dipped 4 points, or 0.3%, to 1314 and the Nasdaq Composite rose 4.6 points, or 0.16%, to 2810. The U.S. economy expanded at an annualized pace of 2.8% in the fourth quarter of 2011, a quicker rate than the 1.8% in the third quarter, the Commerce Department reported in its first reading on Friday. The jump was the biggest since the second quarter of 2010. However, economists were expecting the economy to expand at 3% for the quarter. Continue reading this article here.