NEW YORK (AP) — Stocks are pushing higher at the opening as oil prices appeared to stabilize. Traders shrugged off news that the economy grew more slowly than first thought in the last three months of 2011.
Before the market opened Friday, the Commerce Department said the economy expanded at an annual rate of 2.8 percent in the October-December quarter. That’s weaker than the previous estimate of 3.2 percent.
Oil prices dipped after jumping 8 percent in the past week. The uprising in Libya has pushed prices higher and stocks lower this week.
The Dow Jones industrial average is up 35 points, or 0.3 percent, to 12,103. The S&P 500 index is up 7, or 0.5 percent, to 1,313. The Nasdaq is up 20, or 0.8 percent, to 2,759.
