Wall Street rises on consumer spending
28 March 2016
- From the section Business
(Open): Wall Street rose slightly on Monday, as a report showed a slight increase in consumer spending in February.
In morning trading the Dow Jones was up 21 points to 17,537.
The Commerce Department reported on Monday that consumer spending, which makes up two-thirds of the US economy, rose 0.1% in February.
On Friday, the Commerce Department revised its estimates of US economic growth in the fourth quarter to 1.4% – up from 1.1%.
Starwood shares rose 2.5% after Anbang increased its offer for the hotel chain to $14bn.
Videogame seller GameStop fell 2.4% after it projected a drop in store sales for the first quarter.
This post was written by FSB News