US stocks slipped on Friday as data showed the US economy grew less than expected in the fourth quarter, while some disappointing earnings added pressure to the market. "Out of what the Fed said, you can expect some negative numbers because the Fed obviously saw what the GDP numbers are and they anticipate a slowdown," said Sean Kraus, chief investment officer at CitizensTrust in Pasadena, California.
Chevron Corp fell 3.1 percent to $103.26 and was the biggest drag on the Dow after the No 2 US oil company posted lower earnings, missing Wall Street forecasts. The NYSEArca oil index lost 0.7 percent.
The Dow Jones industrial average dropped 60.06 points, or 0.47 percent, to 12,674.57. The Standard & Poor's 500 Index dipped 2.69 points, or 0.20 percent, to 1,315.74. The Nasdaq Composite Index gained 7.46 points, or 0.27 percent, to 2,812.74. Procter & Gamble Co dipped 0.7 percent to $64.35 after said this year's profit would come in lower than previously expected due to the strong dollar. Ford Motor Co shares fell 1.7 percent to $12.52 after the carmaker reported a lower-than-expected fourth-quarter profit on higher commodity costs and losses in Europe and Asia.
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