GDP fails to spark markets

Fourth-quarter economic growth of 2.8 percent announced by the U.S. Department of Commerce Friday failed to lift markets out of the doldrums. In midmorning trading, the Dow Jones industrial average lost 53.32 points, 0.42 percent, to 12,681.58. The Standard & Poor's 500 index dropped 3.36 points, 0.25 percent, to 1,315.07. The tech-dominated Nasdaq composite index added 3.32 points, 0.12 percent, to 2,808.60. The benchmark 10-year treasury note rose 3/32 to yield 1.928 percent. The euro rose to $1.3117 from Thursday's $1.3109. Against the yen, the dollar fell to 76.75 yen from Thursday's 77.45 yen. In Tokyo, the Nikkei 225 index lost 0.09 percent, 8.25, to 8,841.22.