U.S. stock-index benchmarks opened slightly higher early Friday, with markets set to wrap a frenetic week of earnings and economic data in the green. The Dow Jones Industrial Average DJIA, +0.07% opened less than 0.1% higher at 25,550, the S&P 500 index SPX, -0.06% climbed about 5 points, or 0.2%, at 2,842, while the technology-laden Nasdaq Composite Index COMP, -0.21% advanced 0.5% at 7,888, a day after the index that is most associated with large-capitalization technology and internet-related names was knocked 1% lower by the worst one-day decline in Facebook Inc.’s FB, +0.85% history on Thursday. For the week, the Dow was looking at a gain of 1.9%, the S&P 500 a return of 1.3%, with the Nasdaq trailing with a 0.4% rise, as of Thursday’s close. Earlier, a reading of second-quarter gross domestic product, a ley scorecard of the U.S. economy’s health, came in at 4.1% rate, slightly below average economists’ estimates for 4.2% GDP but the print was still the fastest pace of growth in almost four years.. In corporate earnings, Amazon.com AMZN, +2.02% gained after the e-commerce behemoth posted its biggest quarterly profit in history. Meanwhile a pair of energy giants report quarterly results that came in below average analysts’ estimates. Exxon Mobil Corp. XOM, -3.35% delivered second-quarter earnings and revenue that were cooler than expected, while Chevron Corp. CVX, -0.19% also came in below forecasts. Wall Street also awaited a news conference at around 9:30 a.m. Eastern Time by President Donald Trump, which is expected to be focused on the GDP report.
Stocks edge higher at the open, set to notch weekly gains as GDP comes in at fastest pace in 4 years
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