Stocks open lower after GDP report disappoints

NEW YORK (AP) ? Stocks are opening mostly lower on Wall Street after the government reported that the U.S. economy grew at a slower pace than economists had expected in the fourth quarter.

The Dow Jones industrial average fell 44 points to 12,691 shortly after the opening bell Friday.

The S&P 500 index fell 3 points to 1,315. The Nasdaq composite edged up less than a point to 2,805.

The Commerce Department said the economy grew at a modest 2.8 percent in the final three months of last year. Economists had expected 3 percent growth.

Consumer products maker Procter & Gamble Co. fell after cutting its earnings outlook. Ford dropped 5 percent after its results fell short of Wall Street’s expectations.