US stocks fluctuate after upbeat GDP report

Image
IANS New York
Last Updated : Feb 27 2016 | 12:32 AM IST

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.

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

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 27 2016 | 12:20 AM IST

Next Story