Weak GDP Report Shakes U.S. Stock ETF Traders' Resolve

U.S. equities and stock exchange traded funds slipped on the last day of month as weak economic data weighed on the markets, despite encouraging first quarter earnings results.

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were down 0.2% Friday.

Earnings continued to impress, with Chevron (NYSE: CVX) and Exxon Mobil (NYSE: XOM) revealing rising profits over the first quarter. Google parent Alphabet (NasdaqGS: GOOGL) and Amazon (NasdaqGS: AMZN) also helped curb losses after reporting strong results late Thursday.

Almost 300 companies in the S&P 500 have revealed earnings, with first quarter earnings on track to increase 12% year-over-year, well above the first-quarter earnings growth of 9.1% market observers previously anticipated, the Wall Street Journal reports.