22 de diciembre de 2015 / 16:27 / en 2 años

US STOCKS-Wall Street higher as crude edges up

* Q3 GDP growth at 2 percent

* Chipotle down after Federal probe into E.coli strain

* Brent recovers from 11-year low

* Chevron biggest boost to S&P

* Indexes up: Dow 0.22 pct, S&P 0.21 pct, Nasdaq 0.03 pct (Adds details, updates prices)

By Abhiram Nandakumar

Dec 22 (Reuters) - Wall Street was higher on Tuesday morning as crude oil prices recovered from multi-year lows and data showed that the U.S. economy grew at a healthy clip in the third quarter.

Brent crude rose slightly a day after it slid to its lowest since mid-2004, but gains were limited due to global oversupply concerns and tepid demand for heating oil in what is likely to be the warmest winter on record.

The S&P energy sector was up 1.58 percent, leading the 10 major sectors on the index. Chevron shares were up 1.7 percent at $90.74 and gave the biggest boost to the S&P.

Trading volumes are expected to be relatively light this week, with U.S. stock markets operating a shortened session on Thursday and closing on Friday for Christmas.

“I think the main thing that markets are going to be looking at today is the whole deal with oil,” said Matthew Tuttle, chief executive, Tuttle Tactical Management in Stamford, Connecticut.

The U.S. Commerce Department trimmed its third-quarter GDP growth to an annual rate of 2 percent from the 2.1 percent it reported last month. Economists polled by Reuters had forecast GDP growth revised down to a 1.9 percent rate.

At 10:59 a.m. ET (1559 GMT), the Dow Jones industrial average was up 37.52 points, or 0.22 percent, at 17,289.14, the S&P 500 was up 4.27 points, or 0.21 percent, at 2,025.42 and the Nasdaq Composite index was up 1.53 points, or 0.03 percent, at 4,970.46.

“It feels like there’s not a whole lot going on today in the world of trading,” said Kim Forrest, senior equity research analyst, Fort Pitt Capital Group in Pittsburgh.

Forrest said energy and materials stocks were most likely higher due to bargain hunting.

Chipotle Mexican Grill was down 3.9 percent at $501.50 after Federal authorities said they were investigating a new strain of E. coli linked to the burrito chain.

Ford was up 2.9 percent at $14.13 after Automotive News reported that the automaker was in talks with Google to help build self-driving cars.

Investors will parse data to gauge the health of the U.S. economy as they keep an eye out for the Federal Reserve’s next move.

The central bank last week raised interest rates for the first time in nine years, ending months of uncertainty and speculation.

Advancing issues outnumbered decliners on the NYSE by 1,714 to 1,132. On the Nasdaq, 1,400 issues fell and 1,205 advanced.

The S&P 500 index showed three new 52-week highs and six new lows, while the Nasdaq recorded 22 new highs and 35 new lows. (Reporting by Ankur Banerjee in Bengaluru; Editing by Anil D‘Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below