Wall Street Rises on China but Weak U.S. Data Weighs
Description:U.S. stocks rose modestly at the open on Thursday (September 27) after weak data reflected sluggish U.S. economic growth and dented optimism China would take steps to bolster its economy.
The economy in the U.S. grew less than previously forecast in the second quarter, reflecting slower gains in consumer spending and farm inventories.
The world’s largest economy expanded at a 1.3 percent pace from April through June after growing at a 2 percent rate in the first quarter.
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