May 29 (Reuters) – US stocks down in the morning after the negative GDP in the first quarter and the corporate results for the same period. The US government has lowered the estimates of gross domestic product to 0.7% from + 0.2% forecast last month. Economists had expected a revision to -0.8%. ” The Fed’s monetary policy looks ahead while the GDP is by definition a rearview mirror and the important thing now is that there has been a rush down, “said Adam Sarhan, CEO of Sarhan Capital in New York. “For now the Fed is data-dependent and also the GDP today was weaker than expectations, which eliminates the threat of an imminent rise in interest rates, “he added. With a GDP of the second quarter expected around + 2%, the US economy is headed towards the worst first half since 2011. The report on GDP has also highlighted that corporate earnings for the quarter were down 8.7% on year, with corporations weighted by the dollar rises and domestic companies penalized by crude oil prices. Even the uncertainty of an agreement between Greece and its international creditors weigh on market sentiment. At around 17 the Dow Jones sells 0.7%, the S & amp; P 500 0.6%, the Nasdaq 0.7%. Eight out of ten sectors in the S & amp; P 500 are negative, with industry falling by about 1%. More …
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