Stocks Turn Higher Despite Growth Contraction; Barnes & Noble Surges
NEW YORK (TheStreet) -- Benchmark U.S. stock indices turned higher early Wednesday as investors considered rising geopolitical tensions and soft U.S. economic data.
Durable goods orders for May fell by 1%; economists were expecting a flat reading. The final revision of first-quarter GDP showed a contraction of 2.9%; economists forecast GDP to shrink at an annual pace of 1.8%.
The Dow Jones Industrial Average rose 0.2% to 16,849.54, while the S&P 500 was higher by 0.2% to 1,953.61. The Nasdaq jumped 0.2% to4,359.30.
U.S. markets fell from their intraday highs Tuesday amid flaring Middle East and Eastern Europe tensions.
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