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US stocks little changed

New York - Wall Street stocks opened little changed Friday after the Commerce Department lowered its estimate of fourth-quarter US economic growth.

Five minutes into trade, the Dow Jones Industrial Average dipped 5.17 points (0.03 percent) to 16,267,48.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

The broad-based S&P 500 added 1.01 (0.05 percent) at 1,855.30, while the tech-rich Nasdaq Composite Index rose 5.73 (0.13 percent) to 4,324.66.

The Commerce Department said US gross domestic product growth in the final quarter was at an annual rate of 2.4 percent, revising its initial estimate of a 3.2 percent GDP expansion.

The downward revision was bigger than the forecast of 2.6 percent growth and included a cut to the closely watched consumer spending growth, which is now estimated at 2.6 percent compared with the prior 3.3 percent reading. - Sapa-AFP

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