Off the wire
• IAEA to establish first nuclear fuel bank in Kazakhstan  • EU approves Indian, Japanese joint venture  • Roundup: Migration issue top agenda of Western Balkans summit  • UN Human Rights Chief likely to visit Sri Lanka ahead of critical UN report  • New round of Libyan political dialogue kicks off in Morocco  • Pakistan seeks security for diplomatic missions in Afghanistan  • 1st LD Writethru: Tusk says EU, Ukraine want to see early free travel  • China Headlines: World War II started from China, in 1937: historians  • Xinhua world news summary at 1530 GMT, Aug. 27  • Tusk says EU, Ukraine want to see early free travel  
You are here: 　 Home

U.S. stocks extend gains on GDP data

Xinhua, August 28, 2015 Adjust font size:

U.S. stocks traded higher in the morning session Thursday, with the Dow Jones Industrial Average advancing more than 200 points, as a solid GDP report topped investors' expectations.

At midday, the Dow Jones Industrial Average gained 273.58 points, or 1.68 percent, to 16,559.09. The S&P 500 rose 36.26 points, or 1.87 percent, to 1,976.77. The Nasdaq Composite Index increased 88.78 points, or 1.89 percent, to 4,786.32.

The U.S. Commerce Department on Thursday revised up its estimate for the real gross domestic product (GDP) in the second quarter to a growth of 3.7 percent, much higher than a growth of 0.6 percent in the first quarter.

Some analysts, however, said recent data point to a possible interest rate hike this year.

New York Federal Reserve President William Dudley on Wednesday said a September rate liftoff seemed "less compelling" than just a few weeks ago.

U.S. stocks surged Wednesday after his comment, snapping a six-session losing streak, as global markets regained momentum after growth concerns eased.

In the week ending Aug. 22, the advance figure for seasonally adjusted initial jobless claims was 271,000, a decrease of 6,000 from the previous week's unrevised level, according to the U.S. Labor Department Thursday. Endit