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The news overshadowed data that showed inflation rose significantly in November.
The surge in oil overshadowed data showing that factories added workers and increased production in February, indicating momentum for the expansion.
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The number of singular values to include is not always obvious, because dominant noise components might overshadow data that has physical significance.
The data overshadowed earlier jobs and housing starts data that had been slightly more robust than the market had expected, causing government bond prices to dip initially.
The figures on economic growth overshadowed less optimistic data on unemployment released on Thursday.
The looming fiscal crisis in Europe overshadowed the fresh data, said Uri Landesman, president of Platinum Partners.
"It seems that the good earnings news forced people into the market and overshadowed the jobless data," said Todd Clark, head of listed equity trading at Wells Fargo Securities.
As the London market closed, Wall Street was around 65 points lower, as renewed worries over the US housing market after data overshadowed reassuring results from Goldman Sachs.
The data overshadowed a surge in yields at auctions in Italy and Spain ahead of a European Union summit meeting on Thursday and Friday.
Europe's financial troubles have been buffeting equities worldwide for weeks, and on Wednesday overshadowed economic data that showed inflation well under control in the United States and strong earnings reports from discount retailers.
The Bear bailout overshadowed some good economic data: an report on inflation from the Labor Department.
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