31 Jul 2013
US equities edge higher on upbeat Q2 GDP
FXstreet.com (New York) - The US stock market moved higher Wednesday, boosted by a better-than-projected GDP in Q2.
In the United States, Gross Domestic Product Annualized (Q2) came in at +1.7%, exceeding estimates of only +1.2%. Moreover, the Gross Domestic Product Price Index rose only +0.7% in Q2, missing expectations of +1.0%. Finally Personal Consumption Expenditures Prices (QoQ) came in at 0.0%, below a projection calling for +1.6%. Later today at 18:00 GMT, investors will be tuned in for the FOMC interest rate decision and Monetary Policy Statement.
Beginning with the indices and composites, the NASDAQ rose +0.48% as it settles in region of 3633.38, up +17.23 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1690.81, ascending +5.13 points or +0.31% at the time of writing. Finally, the Dow Jones has moved higher at the opening, trading in the zone of 15571.18, presently +0.33% after a movement of +50.99 points.
Sectors are all lower at the opening, however the Technology and Telecoms sectors have distinguished themselves as the winners thus far, gaining +0.50% and +0.53% respectively. Moreover, the price of gold has settled at $1315.90 per oz., while silver is now negotiating a spot price of $19.59 per oz. Tuesday.
In the United States, Gross Domestic Product Annualized (Q2) came in at +1.7%, exceeding estimates of only +1.2%. Moreover, the Gross Domestic Product Price Index rose only +0.7% in Q2, missing expectations of +1.0%. Finally Personal Consumption Expenditures Prices (QoQ) came in at 0.0%, below a projection calling for +1.6%. Later today at 18:00 GMT, investors will be tuned in for the FOMC interest rate decision and Monetary Policy Statement.
Beginning with the indices and composites, the NASDAQ rose +0.48% as it settles in region of 3633.38, up +17.23 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1690.81, ascending +5.13 points or +0.31% at the time of writing. Finally, the Dow Jones has moved higher at the opening, trading in the zone of 15571.18, presently +0.33% after a movement of +50.99 points.
Sectors are all lower at the opening, however the Technology and Telecoms sectors have distinguished themselves as the winners thus far, gaining +0.50% and +0.53% respectively. Moreover, the price of gold has settled at $1315.90 per oz., while silver is now negotiating a spot price of $19.59 per oz. Tuesday.