Stocks Opened Slightly Higher after GDP Data

U.S. stocks opened slightly higher on Friday, after GDP data showed that U.S. economy expanding at fastest pace in four years. The Dow Jones Industrial Average lately rose 44.48 points, or 0.17%, to 25,571.55. The S&P 500 climbed 2.02 points, or 0.07%, to 2,839.46. The Nasdaq Composite advanced 2.63 points, or 0.03%, to 7,854.82.

Oil prices edged slightly lower Friday, remaining on track for sharp weekly gains after geopolitical concerns had bolstered the market this week. September Brent crude futures fell 4 cents, or 0.1%, to $74.50 a barrel. Brent crude prices have risen almost 3% this week. September West Texas Intermediate crude fell 13 cents, or 0.2%, to $69.48 a barrel. The contract was on track for a 1.7% weekly gain.

The U.S. economy grew at an annualized rate of 4.1% in the second quarter, almost double the 2.2% growth rate seen to start the year. This marks the fastest pace of growth for the U.S. economy in any quarter since the third quarter of 2014.