While you were sleeping: Bets made on US expansion

Wed, 25 Jun 2014

By Margreet Dietz June 26 (BusinessDesk) - Wall Street advanced as investors opted to focus on signs that the US economy has picked up, increasing their bets on the outlook, even as the final reading on first-quarter GDP showed a worse-than-expected contraction. US gross domestic product shrank at a 2.9 percent annual rate, the biggest drop in five years, following a previously reported 1.0 percent decline, in the first three months of the year, according to Commerce Department data. Analysts pointed to recent data that underpin the view...

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