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Wall Street opens mostly higher

Economies.com
2018-06-28 15:09 UTC

US stock indices opened the fourth session of the week mixed, following earlier disappointing data from the world's largest economy, which cut the chances of four Federal Reserve rate hikes in 2018. 

 

President Donald Trump announced the use of the Committee on Foreign Investment in the United States (CFIUS) to deal with potential threats of Chinese acquisitions of US tech, instead of putting up specific limitations on Chinese companies, with the CFIUS authority bolstered by new Congress regulations. 

 

Earlier US data showed the final reading for first-quarter GDP growth down to 2.0% from 2.2% in the second reading and 2.9% in the fourth quarter of 2017, while GDP prices accelerated to 2.2% from 1.9% in the second reading and 2.3% in the fourth quarter of 2017. 

 

US unemployment claims rose 9 thousand to 227 thousand from 218 thousand, above forecasts of 220K, while continuing claims for the week ending June 16 fell 21 thousand to 1.705 million from 1.7426 million, below forecasts of 1.718 million.

 

As of 03:05 GMT, Standard and Poor's 500 rose 0.09%, or 2.56 points to 2,702.19, while Dow Jones slipped 0.06%, or 15.62 points to 24,101.97. 

 

Tech-heavy NASDAQ added 0.26%, or 19.06 points to 7,464.14. 

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