Don’t miss the latest developments in business and finance.

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.

More From This Section

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

Next Story