Share

US stocks rise as US growth meets expectations

New York - Wall Street stocks rose early on Tuesday after data showed third-quarter US economic growth in line with expectations at two percent.

About 50 minutes into trading, the Dow Jones Industrial Average was at 17 288.33, up 36.71 points.

The broad-based S&P 500 rose 0.20% to 2 025.29, while the tech-rich Nasdaq Composite Index gained 0.05% to 4 978.42.

The estimate for US growth in the July to September period was shaved from 2.1% to 2.0%, in part because of lower business investment in inventories.

The report showed personal consumption, which drives about two-thirds of the activity in the US economy, rose by an estimated 3.0%. Barclays rated consumption spending as "solid."

Shares in automaker Ford rose 3.0% following reports it is in talks with Google to collaborate on autonomous car technology. Google parent Alphabet rose 0.8%.

Chipotle Mexican Grill tumbled 4.2% on news that the Centers for Disease Control and Prevention is investigating an outbreak of E. coli that may be unrelated to a previous one in November that led to 53 cases in nine states.

ConAgra Foods rose 0.8% after reporting second-quarter net income of 71 cents per share, up 11c from analyst expectations.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders