New York, Dec 22, 2015 (AFP) – Wall Street stocks opened higher Tuesday after US data showed third-quarter economic growth in line with expectations at two percent.
Five minutes into trade, the Dow Jones Industrial Average was at 17,302.79, up 51.17 points (0.30 percent).
The broad-based S&P 500 rose 6.12 (0.30 percent) to 2,027.27, while the tech-rich Nasdaq Composite Index gained 11.07 (0.22 percent) to 4,980.00.
The estimate for US growth in the July to September period was shaved from 2.1 percent to 2.0 percent, in part because of lower business investment in inventories.
The report showed personal consumption expenditure, which drives about two-thirds of the activity in the US economy, rose by an estimated 3.0 percent. Barclays rated the consumption spending as “solid.”