Stocks Opened Little Changed after Upbeat GDP

U.S. stocks opened little changed on Wednesday after upbeat GDP report. The Dow Jones Industrial Average lately fell 8.77 points, or 0.04%, to 21,856.60. The S&P 500 was up 1.86 points, or 0.08%, to 2,448.16. The Nasdaq Composite added 22.51 points, or 0.36%, to 6,324.39.

Oil prices fell and gasoline futures continued to soar on Wednesday, as investors kept an eye on fallout from Tropical Storm Harvey. Light, sweet crude futures for delivery in October lost 27 cents, or 0.6%, to $46.17 a barrel. November Brent crude fell 21 cents, or 0.4%, to $51.80 a barrel. September gasoline futures jumped 10 cents, or 5.8%, to $1.89 a gallon.

The U.S. economy grew faster than initially thought in the second quarter. Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.