Stocks Rise Above Poor Q1 GDP on Stronger Anticipated Growth

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Stocks Rise Above Poor Q1 GDP on Stronger Anticipated Growth

by TheStreet.com Videos 2:44 mins

Stocks Rise Above Poor Q1 GDP on Stronger Anticipated Growth

by TheStreet.com Videos 2:44 mins

Markets rose despite poor Q1 GDP as a raft of positive economic data suggests pent up demand for the second quarter. Home sales were disappointing though jobless claims fell more than expected. Gross domestic product fell at an annual rate of 1% in the first quarter - the first time economic output has contracted since the first quarter of 2011. Ongoing M&A activity helped buoy sentiment as meat producer Hillshire Brands leapt after Tyson bid $50 a share in cash for the company. Markets will focus on personal income data tomorrow as a vital economic recovery indictor. Jane Searle reports from the NYSE.

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