Stocks Opened Flat after GDP Data

U.S. stocks opened little changed on Thursday as the upwardly revised fourth-quarter GDP growth rate underscored strength in the domestic economy. The Dow Jones Industrial Average lately lost 2.57 points, or 0.01%, to 20,656.75. The S&P 500 shed 0.29 point, or 0.01%, to 2,361.42. The Nasdaq Composite gained 6.48 points, or 0.11%, to 5,904.03.

The U.S. grew slightly faster at a 2.1% pace in the fourth quarter and corporate profits continued to rebound. Gross domestic product, the official scorecard for the economy, was a bit stronger than the previously reported 1.9% annual rate owing to higher spending on gasoline and travel-related services, the government said Thursday.

Oil prices rose slightly Thursday, with gains tempered by a rising dollar after crude witnessed some of its biggest gains in nearly two months during the U.S. session. Light, sweet crude futures for delivery in May recently traded up 17 cents at $49.69 a barrel . May Brent crude rose 11 cents to $52.50.