While you were sleeping: Yet another record

Thu, 29 May 2014

By Margreet Dietz May 30 (BusinessDesk) - The Standard & Poor’s 500 Index crept to a fresh intraday record as a second estimate showing the US economy contracted in the first quarter failed to deter expectations that the recovery is gathering steam. The world’s largest economy shrank at a 1.0 percent annual rate in the first three months of 2014, according to a second estimate by the Commerce Department. “The headline figure was weaker than expected, but it was mainly due to slower inventory growth, which bodes well for future growth,...

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