Wall St. opens lower as expectations mount of a December rate hike

U.S. stock indices opened Thursday lower on profit-taking after strong gains in the last two sessions, and as expectations mounted of an impending Fed rate hike in December following a string of strong GDP and unemployment claims data and some bullish comments by Fed officials. 

As of 13:55 GMT, Dow Jones lost 6.6 points, or 0.04% to 18,332.64, while Standard and Poor's 500 shed 2.92 points, or 0.13% to 2,168.92. NASDAQ Composite dipped 6.16 points, or 0.12% to 5,312.36. 

S&P 500 surged over 0.5% yesterday, and 1.2% in the last two sessions, with energy shares leading the way after oil prices rose over five percent following the first OPEC's production deal since 2008. 

Earlier U.S. data showed GDP growing by 1.4% in the second quarter, besting forecasts of 1.3%, and compared to 1.1% in the second reading, while unemployment claims came at 254 thousand last week, less than the 260K expected. 

The strong data bolstered expectations of a U.S. rate hike in December, supported by bullish comments from Fed officials.  

Fed Atlanta President Denis Lockhart said the economy is nearing the bank's targets in employment and inflation, indicating its readiness for a rate hike soon, while Philly Fed President Patrick Harker said policymakers should go ahead and raise rates. 

Investors now await Fed Chair Janet Yellen's speech later today in Kansas City to reassess the chance of a rate increase this year.