US stocks trade mixed after GDP data

New York, Dec 23 (IANS) US stocks traded mostly higher in the morning session, as investors were digesting the newly-released GDP data from US amid continued weak oil prices.

US Commerce Department announced on Tuesday that the third estimate of real gross domestic product (GDP) increased at an annual rate of 2 percent in the third quarter of 2015, slightly down from the second estimate of 2.1 percent but above market expectations of 1.5 percent, Xinhua reported.

At mid-day, the Dow Jones Industrial Average rose 65.37 points, or 0.38 percent, to 17,316.99. The S&P 500 gained 5.69 points, or 0.28 percent, to 2,026.84. The Nasdaq Composite Index inched down 2.10 points, or 0.04 percent, to 4,966.82.

Wall Street focussed on oil’s continued decline. Brent oil price hit an 11-year low on Monday as market worried that global supplies exceed demand.

US stocks ended higher on Monday after heavy losses on Friday, as investors meditated on low oil prices in a holiday-shortened trading week.

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