Stocks Rose after Second-quarter GDP

U.S. stocks rose in the early trading on Friday after the U.S. grew at a 2.1% annualized pace in the second quarter, coming in above analysts’ estimates. The Dow Jones Industrial Average lately advanced 19.00 points, or 0.07%, to 27,159.98. The S&P 500 was up 14.14 points, or 0.47%, to 3,013. The Nasdaq Composite rose 73.64 points, or 0.89%, to 8,312.18.

U.S. economic growth decelerated in the second quarter, but slowed less-than-expected as a surge in consumer activity counterbalanced a pullback in business investment, net exports and inventory investment. First-quarter GPD was unrevised at 3.1%. First-quarter personal consumption was revised up to 1.1%, from 0.9% previously, and first-quarter core PCE was revised down to 1.1%, from 1.2% previously.