US stocks jump after Q3 growth revised sharply higher
NEW YORK (AFP) - United States stocks on Friday opened higher after the Commerce Department said third-quarter US gross domestic product grew much faster than previously estimated.
Five minutes into trade, the Dow Jones Industrial Average jumped 51.30 points (0.32 per cent) to 16,230.38.
The broad-based S&P 500 rose 4.43 (0.24 per cent) to 1,814.03, while the tech-rich Nasdaq Composite Index increased 11.16 (0.28 per cent) to 4,069.30.
The GDP report, the third and final estimate for the third quarter, put growth at 4.1 per cent instead of the previously estimated 3.6 per cent.