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Opening Bell: U.S. Stocks Rise on Japan Stimulus; GDP Disappoints

U.S. stocks opened higher on Friday, shrugging off a disappointing GDP report, as fresh stimulus from the Bank of Japan takes center stage.
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U.S. stocks opened higher on Friday, shrugging off a disappointing GDP report, as fresh stimulus from the Bank of Japan takes center stage. Fourth quarter GDP rose just 0.7 percent, compared to forecasts of 0.8 percent. Japan's move to cut interest rates, pushing them into negative territory in an effort to spur bank lending, displayed the growing influence of global central banks to prop up struggling economies. But analysts were skeptical that risk averse consumers in Japan are hungry for credit. 'Even if they do get offered potentially good rates to start businesses or invest more, I don't necessarily think that this is the time to be doing that,’ said Josh Mahony, a market analyst with IG, based in London. And, Xerox (XRX) said it will split into two separate publicly traded companies, one focused on document technology and the other on business services. Billionaire investor Carl Icahn scored three board seats on the services company, the Wall Street Journal reports. Finally, some good news for New Yorkers, Uber said it will cut prices by 15 percent, as other car service and riding sharing apps gain steam. TheStreet’s Scott Gamm reports from Wall Street.

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