Stocks put aside U.S. growth setback

http://ift.tt/eA8V8J Stock markets in Europe and Asia looked past gains by Iraqi militants and poor first-quarter growth in the United States on Thursday, with some investors raising their forecasts for a U.S. economic bounce in coming months. A Sunni insurgency in Iraq has driven oil prices as high as $115 a barrel, threatening to raise costs for businesses around the world. In that light, Wednesday's final estimate of U.S. gross domestic product in the first quarter was only the latest argument that the Federal Reserve will keep interest rates at record lows into next year. Some responded to the U.S. figures by raising their estimates of second-quarter growth.



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