Wall Street is having a rough go of it today. Stocks (^DJI, ^GSPC, ^IXIC) are struggling to claw their way back to gains after the Bank of Japan surprised markets by keeping rates unchanged and didn't provide any further stimulus.
Adding to the not so good news, the first reading of U.S. economic growth for the first quarter came in weaker than expected, as consumers and businesses spent less and exports continued to decline.
The Commerce Department reported gross domestic product grew by a meager 0.5% from January through March. That is down from 1.4% growth in the fourth quarter.
Facebook (FB) shares hit a new all-time high in early in early trading after the social media giant's first-quarter revenue rose over 50%, crushing Wall Street expectations. The big beat comes as the company brought on new advertisers with its popular mobile app and live video feature. Facebook also announced a new shareholding structure designed to keep CEO Mark Zuckerberg in control.
Ford (F)Read More »from GDP disappoints, BOJ surprise