Off the wire
• 49 percent of Americans say racism "a big problem": poll  • Bangkok bombing suspects indicted by military court  • Interview: New counter-terrorism strategy demands collaboration of entire society: Italian expert  • Greek opposition conservative party leader resigns  • ESM issues 40-year, 1-billion-euro bond  • Chinese firm pledges to digitize Kenyan counties  • 1st LD: Pentagon says U.S.-led counter-IS campaign neither involved nor affected by Turkey's downing of Russian plane  • Spotlight: Russia, Turkey divide over violation of Turkish airspace by downed Russian warplane  • Xinhua Insight: Battle against poverty still hard in remote mountains  • Chunyun tickets to go on sale on Thursday  
You are here: 　 Home

U.S. stocks open lower amid GDP report

Xinhua, November 25, 2015 Adjust font size:

U.S. stocks opened lower Tuesday, as investors pondered over the country' s revised economic growth for the third quarter of 2015.

U.S. real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2015, lower than a growth of 3.9 percent in the second quarter, according to the Commerce Department Tuesday.

The growth was generally in line with market expectations. This is the agency's second estimate for the GDP growth in the third quarter, compared to a 1.5-percent advance estimate.

The price index for gross domestic purchases increased 1.3 percent in the third quarter, compared with an increase of 1.5 percent in the second. Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent, compared with an increase of 1.2 percent.

"Stronger growth but a weaker mix, with the biggest changes in inventories, revised up, and consumption, revised down. GDP growth on a year-on-year basis was revised from 2.0 percent to 2.2 percent, putting it right in the middle of the range for annual growth since 2010," said Chris Low, chief economist at FTN Financial, in a note.

Shortly after the opening bell, the Dow Jones Industrial Average fell 52.58 points, or 0.30 percent, to 17,740.10. The S&P 500 lost 8.14 points, or 0.39 percent, to 2,078.45. The Nasdaq Composite Index decreased 30.71 points, or 0.60 percent, to 5,071.77.

On Monday, U.S. stocks reversed early gains to close mildly lower as Wall Street digested a batch of downbeat economic reports. Endi