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U.S. stocks open higher on Black Friday

Xinhua, November 25, 2016 Adjust font size:

U.S. stocks opened higher Friday, a holiday-shortened session, as Wall Street continued to digest the Federal Reserve's minutes from its November meeting.

U.S. stock markets were closed Thursday for the Thanksgiving holiday and will close at 1 p.m. local time (1800 GMT) Friday.

According to the minutes released Wednesday afternoon, U.S. real gross domestic product (GDP) expanded at a faster pace in the third quarter than in the first half of the year and labor market conditions continued to strengthen in recent months.

"(Federal Open Market Committee) Members generally agreed that the case for an increase in the policy rate had continued to strengthen. However, members emphasized that the actual path of the federal funds rate would depend on the economic outlook as informed by incoming data," said the minutes.

Meanwhile, investors also kept a close eye on retailers during Black Friday. Online shopping on Thanksgiving Day itself delivered 1.15 billion U.S. dollars in sales, an increase of 13.6 percent over last year, according to Adobe Systems Inc.

On the economic front, the international trade deficit was 62.0 billion dollars in October, up 5.5 billion dollars from 56.5 billion dollars in September, the Commerce Department announced Friday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 54.30 points, or 0.28 percent, to 19,137.48. The S&P 500 added 3.86 points, or 0.18 percent, to 2,208.58. The Nasdaq Composite Index was up 5.84 points, or 0.11 percent, to 5,386.52.

On Wednesday, U.S. stocks closed mixed, with the Dow Jones Industrial Average and the S&P 500 refreshing their closing records, as investors digested the Federal Reserve's minutes from its November meeting amid a slew of economic data. Endi