NEW YORK (AP) — Stocks are heading for a higher opening and bond prices are slipping after a reading on economic growth came in better than expected.
The government early Friday lowered its estimate for how fast the U.S. economy grew in the second quarter, but not by as much as analysts had forecast.
The Commerce Department says gross domestic product grew at a 1.6 percent rate in the April-to-June period. Economists expected a 1.4 percent rate.
Stock index futures moved higher, and bond prices edged lower.
Dow Jones industrial average futures are up 0.7 percent, Standard & Poor’s 500 futures are up 0.8 percent and Nasdaq 100 futures are up 0.9 percent.
The 10-year Treasury yield rose to 2.55 percent from 2.50 percent.
