US open: Stocks trade higher following GDP data
Wall Street stocks were in the green early on Thursday as market participants digested fresh GDP and jobless claims data.
As of 1515 BST, the Dow Jones Industrial Average was up 0.23% at 32,791.28, while the S&P 500 advanced 0.41% to 4,044.23 and the Nasdaq Composite came out the gate 0.51% firmer at 11,986.64.
The Dow opened 73.68 points higher on Thursday, extending solid gains recorded in the previous session.
Thursday's primary talking point will be America's latest GDP update, which revealed the US economy grew a touch less than previously estimated in the fourth quarter. GDP grew at an annual pace of 2.6%, down from a previous estimate of 2.7% and from 3.2% growth in the third quarter, mainly due to downward revisions to exports and consumer spending.
Elsewhere, Americans lined up for unemployment benefits at an accelerated pace in the seven days ended 25 March, according to the Labor Department. Initial jobless claims rose by 7,000 week-on-week to 198,000, slightly above expectations for a reading of 196,00 but remaining at a historically low level and still pointing to a stubbornly tight labour market. The four-week moving average, which aims to strip out week-to-week volatility, rose by 2,000 to 198,250.
Also in focus, the benchmark ten-year Treasury note was slightly lower at 3.578%, while its two-year counterpart edged up slightly to approximately 4.150%
Federal Reserve bankers Thomas Barkin, Susan Collins, and Neil Kashkari will all deliver speeches throughout the afternoon, while investors will also hear from US Treasury Secretary Janet Yellen.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walt Disney Co. (DIS) $98.35 1.53%
Walgreens Boots Alliance, Inc. (WBA) $34.65 1.48%
Intel Corp. (INTC) $31.99 1.48%
Caterpillar Inc. (CAT) $225.70 1.21%
Dow Chemical Co. (DOW) $54.19 1.10%
Microsoft Corp. (MSFT) $283.52 1.07%
Goldman Sachs Group Inc. (GS) $323.68 0.92%
Walmart Inc. (WMT) $145.55 0.92%
Chevron Corp. (CVX) $162.23 0.85%
Apple Inc. (AAPL) $161.96 0.74%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $465.58 -0.22%
Johnson & Johnson (JNJ) $153.01 -0.20%
Procter & Gamble Co. (PG) $146.62 -0.13%
Visa Inc. (V) $223.03 -0.12%
Merck & Co. Inc. (MRK) $104.80 -0.11%
Dowdupont Inc. (DWDP) $0.00 0.00%
McDonald's Corp. (MCD) $277.47 0.01%
Travelers Company Inc. (TRV) $169.90 0.02%
Salesforce.Com Inc. (CRM) $196.82 0.09%
Amgen Inc. (AMGN) $241.29 0.11%
S&P 500 - Risers
Kohls Corp. (KSS) $23.38 6.03%
Vornado Realty Trust (VNO) $15.37 3.99%
Freeport-McMoRan Inc (FCX) $40.94 3.82%
Carmax Inc. (KMX) $61.70 3.65%
Philip Morris International Inc. (PM) $98.07 3.54%
Interpublic Group of Companies Inc. (IPG) $36.46 3.23%
Advanced Micro Devices Inc. (AMD) $99.12 3.15%
Netflix Inc. (NFLX) $342.40 3.12%
Macerich Co (MAC) $10.26 2.96%
Carnival Corp. (CCL) $10.18 2.93%
S&P 500 - Fallers
Nektar Therapeutics (NKTR) $0.65 -10.76%
Charles Schwab Corp. (SCHW) $53.19 -3.66%
Alphabet Inc. Class A (GOOGL) $100.35 -1.03%
Alphabet Inc. Class C (GOOG) $100.88 -1.00%
Hartford Financial Services Group Inc. (HIG) $68.94 -0.92%
Regeneron Pharmaceuticals Inc. (REGN) $812.23 -0.87%
Helmerich & Payne Inc. (HP) $36.56 -0.61%
Mondelez International Inc. (MDLZ) $69.94 -0.60%
Paychex Inc. (PAYX) $115.35 -0.59%
Progressive Corp. (PGR) $143.85 -0.44%
Nasdaq 100 - Risers
JD.com, Inc. (JD) $44.11 7.11%
Qurate Retail Inc. (QRTEA) $0.94 5.95%
Netflix Inc. (NFLX) $342.40 3.12%
Asml Holdings N.V. (ASML) $677.81 2.84%
Trip.com Group Limited (TCOM) $37.08 2.57%
KLA-Tencor Corp. (KLAC) $394.99 2.55%
Align Technology Inc. (ALGN) $313.74 2.46%
Hasbro Inc (HAS) $53.23 2.37%
Mercadolibre Inc. (MELI) $1,253.55 2.34%
Analog Devices Inc. (ADI) $193.44 2.26%
Nasdaq 100 - Fallers
Baidu Inc. (BIDU) $154.27 -2.33%
Alphabet Inc. Class A (GOOGL) $100.35 -1.03%
Alphabet Inc. Class C (GOOG) $100.88 -1.00%
Regeneron Pharmaceuticals Inc. (REGN) $812.23 -0.87%
Mondelez International Inc. (MDLZ) $69.94 -0.60%
Paychex Inc. (PAYX) $115.35 -0.59%
Intuitive Surgical Inc. (ISRG) $250.01 -0.30%
Check Point Software Technologies Ltd. (CHKP) $127.37 -0.24%
NetEase Inc. Ads (NTES) $88.28 -0.11%
Vertex Pharmaceuticals Inc. (VRTX) $314.13 -0.04%