Wall Street opens higher despite GDP data

Wednesday, 30. September 2020 15:32

Stocks on Wall Street moved in positive territory following the opening bell on Wednesday even though the United States Bureau of Economic Analysis reported that gross domestic product (GDP) tumbled 31.4% in the second quarter. However, the ADP National Employment Report showed that the number of jobs in the private sector in the United States grew by 749,000 in September.

The Dow Jones was up 110 points or 0.51% during the first minute of trading in New York City. Walgreens Boots Alliance was the best performer rising by 0.93%. The S&P 500 jumped 0.40% as Hasbro went up by 4.44%. Meanwhile, the Nasdaq 100 gained 0.27% with pharma giant Moderna growing by 6.76%.

The euro was down 0.34% against the dollar at 9:31 am ET, buying 1.17064.

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Breaking the News / TF