Investing.com - Wall Street was higher on Friday, following a report that the U.S. economy expanded at the highest rate in four years.
The S&P 500 rose 2 points, or 0.08%, to 2,839.75 as of 9:44 AM ET (13:44 GMT), while the Dow increased 12 points, or 0.05%, to 25,539.55 and the tech-heavy Nasdaq Composite gained 9 points, or 0.12%, to 7,861.89.
The U.S. economy accelerated as expected in the second quarter, underlining the case for the Federal Reserve to gradually increase interest rates.
Gross domestic product registered a seasonally-adjusted annual rate of 4.1% growth in the second quarter, its fastest rate of growth since the third quarter of 2014.
Twitter (NYSE:TWTR) slumped 13.65% after its monthly active users came in lower than expected. Intel (NASDAQ:INTC) fell 6.97% after reporting slower-than-expected sales growth at its data centers and delaying the release of its next-generation chips until the end of 2019. Meanwhile, Exxon Mobil (NYSE:XOM) fell 2.74% after its earnings missed expectations.
In Europe stocks were up. Germany’s DAX surged 44 points, or 0.35%, while in France the CAC 40 increased 14 points, or 0.27%, and in London, the FTSE 100 was up 41 points, or 0.54%. Meanwhile the pan-European Euro Stoxx 50 gained 13 points, or 0.38%, while Spain’s IBEX 35 rose 65 points, or 0.67%.
In commodities, gold futures fell 0.24% to $1,222.70 a troy ounce, while crude oil futures decreased 0.43% to $69.31 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.10% to 94.48.
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