Stocks Opened Mixed after GDP Data

U.S. stocks opened mixed on Friday as the latest read on growth pointed to an economy that continues to improve. The Dow Jones Industrial Average lately rose 5.00 points, or 0.03%, to 18,174.68. The S&P 500 slid 1.64 points, or 0.08%, to 2,131.40. The Nasdaq Composite fell 6.91 points, or 0.13%, to 5,209.07.

The U.S. economy grew in the third quarter at the fastest pace in two years. The government said gross domestic product, the official scorecard for the economy, expanded at a 2.9% annual clip from July through September.

Amazon.com (AMZN) reported weaker-than-anticipated 2016 third-quarter earnings results after the market close on Thursday. The Seattle-based e-commerce giant posted earnings of 52 cents per share, below analysts’ expected 78 cents per share. Revenue came in at $32.71 billion, beating projections of $32.69 billion.

Mastercard Inc. (MA) reported third-quarter earnings above Wall Street expectations. Net income for the quarter came in at $1.2 billion, or $1.08 per share, compared with $977 million, or 86 cents during the same period a year ago. Revenue hit $2.9 billion, compared with $2.5 billion a year ago.

Crude-oil futures were largely unchanged in early Asia trade Friday as investors wait for a meeting of oil producers this coming weekend for more hints on a proposed production cut deal. Light, sweet crude futures for delivery in December traded at $49.79 a barrel, up $0.07. December Brent crude rose $0.10 to $50.57 a barrel.