Major US stock indexes finished trading below the zero mark

Major US stock indices fell slightly on Friday after data showed that the economy grew at its weakest pace in three years in the first quarter. Gross domestic product grew by 0.7% on an annualized basis, below the 1.1% level estimated by economists, as consumer spending barely increased, and enterprises less invested in inventories. In the fourth quarter, the US economy grew by 2.1%.

In addition, Chicago's purchasing managers' index rose to 58.3 in April from 57.7 in March, the highest level since January 2015. Optimism among firms in terms of doing business grew for the third month in a row. Three of the five components of the index led to an increase in April, while production and unfulfilled orders declined.

The cost of oil has slightly increased after the day before the price reached a monthly minimum. Investors bought oil at lower prices ahead of the OPEC meeting next month, at which producers can approve the extension of the oil production pact. Most analysts polled by Reuters expect that the deal between the Organization of Petroleum Exporting Countries and non-OPEC producers, concluded in December 2016, will be extended until the end of this year. Analysts also said that the demand and supply on the oil market could return to the balance sheet by the end of this year, if the deal to reduce production is extended.

Most components of the DOW index finished trading in the red (21 out of 30). The most fell shares of Intel Corporation (INTC, -3.57%). The leader of growth was shares of Chevron Corporation (CVX, + 1.04%).

Most sectors of the S & P index showed a decline. The financial sector fell most of all (-0.7%). The leader of growth was the technological sector (+ 0.4%).

At this moment:

Dow -0.20% 20.940.30 -41.03

Nasdaq -0.02% 6,047.61 -1.33

S & P -0.19% 2,384.15 -4.62