Frankfurt Encouraging corporate results and optimistic outlook attract investors to Wall Street. The Dow Jones, Nasdaq and S&P 500 indexes were each up about 1.5 percent in early trading on Thursday.
The market-wide S&P has again risen above the psychologically important mark of 4000 points. The day before, the index had just missed this level.
The US economy shrank a little more than expected in the first quarter. Gross domestic product (GDP) fell an annualized 1.5 percent in the first quarter, the Commerce Department said on Thursday, based on a second estimate. Initially, there was talk of a minus of 1.4 percent.
However, Thomas Hayes, manager at wealth manager Great Hill, took this as a sign that the US Federal Reserve could slow down the pace of its rate hikes in a few months. “The numbers suggest that growth is slowing, demand is slowing and maybe even inflation is slowing.”
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