Wall Street opens higher ahead of Powell's speech

2018-11-28 16:31:33 GMT (Economies.com)
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. 

 
 
 
  Symbol Last Change Chg.%
1.1301
-0.0096
0.8384%
1.2573
-0.0130
1.0265%
14.624
0.004
0.027%
51.154
-1.091
2.088%
60.16
-1.26
2.05%
1240.015
-8.025
0.643%
 
 
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