S&P, Dow Opened Higher, Nasdaq Slipped

U.S. stocks opened mostly higher on Wednesday, with the S&P and the Dow traded higher, after an upbeat revision to third quarter gross domestic product data. The Dow Jones Industrial Average lately rose 116.94 points, or 0.49%, to 23,953.65. The S&P 500 gained 7.37 points, or 0.28%, to 2,634.41. The Nasdaq Composite dropped 23.15 points, or 0.33%, to 6,889.21.

Oil futures pulled back further on Wednesday after an American Petroleum Institute release indicated a surprise increase in U.S. crude supplies. January West Texas Intermediate crude fell by 44 cents, or 0.8%, to $57.55 a barrel. January Brent dropped 62 cents, or 1%, to $62.62 a barrel.

The U.S. economy’s pace of growth in the third quarter was raised to 3.3% from 3% under the government’s latest revision to gross domestic product.