US stocks fluctuate after upbeat GDP report

Views: 25

New York, Feb 27 (IANS) US stocks traded narrowly mixed as the country’s economic growth was revised up to one percent in the fourth quarter of 2015.

By Friday noon, the Dow Jones Industrial Average edged down 0.89 point, or 0.01 percent, to 16,696.40, Xinhua news agency reported.

The S&P 500 rose 3.19 points, or 0.16 percent, to 1,954.89. The Nasdaq Composite Index added 13.37 points, or 0.29 percent, to 4,595.57.

According to the second estimate released on Friday by the Commerce Department, the US real gross domestic product (GDP) increased at an annual rate of 1.0 percent in the fourth quarter of 2015, beating market consensus of 0.4 percent.

In the previous estimate, the increase in real GDP for the fourth quarter of 2015 was 0.7 percent.

ALSO READ:   Maduro re-elected as Venezuelan President

On Thursday, US stocks kept rising as Wall Street digested a batch of generally positive economic reports amid oil recovery.

Comments: 0

Your email address will not be published. Required fields are marked with *