On the evening of August 28, Eastern Time, the three major U.S. stock indexes opened slightly higher. Among them, the Dow Jones Industrial Average opened 0.10% higher, and the S&P 500 Index also rose 0.10%. The technology – heavy Nasdaq Composite Index performed even more prominently, with a gain of 0.27%. Intel opened 0.44% higher. As of 16:00 Eastern Time, its stock price was $24.93, up $0.08 from the previous day’s closing price of $24.85. Although the trading status showed that it had not yet opened for the day, its opening price was $24.96, it reached a high of $25.14, a low of $24.61, with a turnover rate of 1.37%, a P/E TTM of – 5.27, a trading volume of 60.0351 million shares, a trading value of $1.492 billion, and a total market capitalization of $109.119 billion. Meanwhile, social media giant Meta experienced a 0.45% decline, closing at $751.110. Its after – hours price at 20:01 (Eastern Time) was $749.410, down $1.700 or 0.23% from the closing price, with a total market capitalization of $1.89 trillion.
The U.S. economic data released earlier on the same day supported the higher opening of the stock market. Preliminary data released by the Bureau of Economic Analysis (BEA) showed that the annualized quarterly growth rate of real GDP in the second quarter of the United States was revised to 3.3%, higher than the expected 3.1% and the previous value of 3%. The annualized quarterly growth rate of the core Personal Consumption Expenditures (PCE) price index in the second quarter was revised to 2.5%, meeting expectations and remaining unchanged from the previous value. Business investment and net exports were the main drivers of the upward revision of GDP data. Business investment increased by 5.7% in the second quarter, far higher than the initial report of 1.9%, and net exports contributed nearly 5 percentage points to GDP growth, setting a historical record. Consumer spending, the main engine of the U.S. economy, performed steadily, with an annualized growth rate of 1.6% in the second quarter, an upward revision from the initial value of 1.4%.
However, the market trend is full of uncertainties. After the three major indexes opened higher, they once all plunged into negative territory. But as of press time, the Nasdaq turned positive again. Behind this volatility may be factors such as sudden industry developments and corporate earnings expectations. Investors are closely monitoring various types of information, weighing market risks and opportunities to make further investment decisions. In terms of the closing situation, the three major U.S. stock indexes closed higher collectively. The Nasdaq ultimately rose 0.53%, the S&P 500 Index increased by 0.32%, and the Dow Jones rose 0.16%. Both the Dow and the S&P 500 Index reached new closing highs, indicating that the bulls had the upper hand after the tug – of – war between bulls and bears, and there is still some confidence in the economic outlook and corporate earnings.
