Last Updated: July 31st, 2009: 1:05 PM ET---The major US equity indices are trading in choppy fashion Friday, currently just above the unchanged level, with investors showing mixed reactions to the morning's report on Q2 GDP and quarterly results. The government released its advance reading on the nation's GDP showing the economy had contracted at an annualized rate of 1.0%, making it the fourth consecutive decline, but better than the expected 1.5% contraction. However, the report showed personal consumption had fallen by an annualized rate of 1.2%, much worse than the expected 0.5% decline. Currently six of the ten major economic sectors are trading higher, with materials (+1.2%) leading. The Dow Jones is trading 0.2% higher to 9,168, the Nasdaq is trading 0.1% higher to 1,987 and the S&P 500 is trading at the unchanged level.

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