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Stocks head for lower open following GDP reading

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[July 31, 2008]  NEW YORK (AP) -- U.S. stocks are heading for a lower open after a weaker-than-expected reading on the nation's economic output.

Auto RepairThe Commerce Department's report Thursday that the economy grew at a 1.9 percent pace in second quarter has disappointed investors who had been expecting growth would be more than 2 percent.

Investors are also uneasy becuase the number of people seeking unemployment benefits jumped last week.

Dow Jones industrials futures, which had been moderately higher, fell 75, or 0.65 percent, to 11,505.

[Associated Press; By TIM PARADIS]

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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