Stocks open higher following strong US growth
NEW YORK (AP) — U.S. stocks are opening higher after news that the U.S. economy grew at a solid 3.9 percent annual rate in the July-September quarter.
The rate of growth reported by the government early Tuesday was even faster than first estimated. The expansion gave the U.S. its strongest six months of growth in more than a decade.
The Standard & Poor’s 500 index rose three points, or 0.2 percent, to 2,072 as of 9:35 a.m. Eastern time Tuesday.
The Dow Jones industrial average rose 26 points, or 0.2 percent, to 17,845. The Nasdaq composite rose 12 points, or 0.3 percent, to 4,767.
Pall, a supplier of filtration technology, jumped 3 percent after its earnings beat analysts’ estimates.
Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.30 percent.