North American markets weak on U.S. economic figures, Fed outlook

North American stocks opened lower on Wednesday after data showed that economic growth braked more sharply than expected in the first quarter, and ahead of the U.S. Federal Reserve\'s likely move to maintain interest rates.

TORONTO – United states stock markets felt the weight of a disappointing continue reading U.S. economic development in the first quarter along with a restrained outlook on the American? economy in the Federal Reserve.

The S&P/TSX composite index made a tiny 1.27 point gain to 15,347.34, with energy and gold issues propping up a broader decline.

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And in the U.S., the Fed suggested for was not yet prepared to move on interest rates.

The Dow Jones industrial average was down 74.61 points at 18,035.53, the Nasdaq index was off 31.78 points at 5,023.64 and the S&P 500 gave back 7.91 points to 2,106.85.

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In commodities, the June crude contract rose $1.52 to stay at $58.58 a barrel, while the TSX energy sector gained about one percent. June gold contract fell $3.90 to US$1,210 an oz.

The Canadian dollar was up 0.04 of a U.S. cent at 83.17 cents.

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