Wall Street opens higher ahead of Powell's speech

US stock indices opened the third session of the week higher for the third consecutive day, following a stream of US GDP, housing, and trade data, and ahead of a high-profile speech by Federal Reserve Chair Jerome Powell later today. 

US GDP growth clocked in at 3.5% according the second reading for the third quarter, slightly missing estimates of 3.6%, and the same as the first reading, while also below the second quarter's 4.2%. 

US goods trade balance showed a deficit of $77.2 billion in October, up from $76.3 billion in September, while wholesale inventories rose 0.7%, accelerating from 0.4% in September and above estimates of 0.5%. 

New home sales fell 8.9% to an annualized 544 thousand units, compared to a 1% increase in September to 597 thousand, while analysts expected a 4% increase to 575 thousand, while the Richmond manufacturing index receded to 14 from 15 in November, missing estimates of 16.  

Stock Performance  

As of 03:26 GMT, Standard and Poor's 500 rose 0.19%, or 5.09 points to 2,687.26, while Dow Jones added 0.51%, or 127.10 points to 24,875.83. 

Tech-heavy NASDAQ advanced 0.34%, or 24.42 points to 7,107.12.