<p>Wall Street stocks were mostly higher early Thursday as investors weighed better US economic data against worries about the coronavirus and unease over the upcoming US presidential election.</p>.<p>After sustaining big declines on Wednesday, US equity indices were choppy just after trading opened after the US reported a historic jump in third-quarter growth following a worst-ever decline in activity in the prior quarter.</p>.<p>About 20 minutes into trading, the Dow Jones Industrial Average was at 26,456.86, down 0.2 per cent.</p>.<p>The broad-based S&P 500 added 0.2 percent at 3,277.88, while the tech-rich Nasdaq Composite Index gained 0.6 percent to 11,070.29.</p>.<p>The Commerce Department reported that the US economy expanded at a 33.1 per cent annual rate in the third quarter, following a 31.4 per cent drop in the prior quarter.</p>.<p>The gain, a bit better than analyst expectations, was driven by a surge in spending by consumers and businesses that analysts fear could erode with the absence of additional fiscal support from Washington as the US contends with the hit from Covid-19.</p>.<p>In other data Thursday, new applications for US jobless benefits fell to 751,000 for the week ended October 24, which was better than expected but still well above historical norms.</p>.<p>"The resurgence in Covid-19 infections and failure to pass additional fiscal relief poses a considerable downside risk to the economy," said Nancy Vanden Houten of Oxford Economics.</p>.<p>The US data came one day after France and Germany announced new restrictions in response to spikes in coronavirus infections.</p>.<p>Investors also are contending with a busy week for earnings reports, with releases later in the day from tech giants Apple, Amazon, Alphabet and Facebook.</p>.<p>Markets are also girding for a potentially messy US election next week, with polls suggesting the possibility of a split control over the main branches of government that could limit Washington's ability to enact fiscal stimulus measures to boost the economy.</p>
<p>Wall Street stocks were mostly higher early Thursday as investors weighed better US economic data against worries about the coronavirus and unease over the upcoming US presidential election.</p>.<p>After sustaining big declines on Wednesday, US equity indices were choppy just after trading opened after the US reported a historic jump in third-quarter growth following a worst-ever decline in activity in the prior quarter.</p>.<p>About 20 minutes into trading, the Dow Jones Industrial Average was at 26,456.86, down 0.2 per cent.</p>.<p>The broad-based S&P 500 added 0.2 percent at 3,277.88, while the tech-rich Nasdaq Composite Index gained 0.6 percent to 11,070.29.</p>.<p>The Commerce Department reported that the US economy expanded at a 33.1 per cent annual rate in the third quarter, following a 31.4 per cent drop in the prior quarter.</p>.<p>The gain, a bit better than analyst expectations, was driven by a surge in spending by consumers and businesses that analysts fear could erode with the absence of additional fiscal support from Washington as the US contends with the hit from Covid-19.</p>.<p>In other data Thursday, new applications for US jobless benefits fell to 751,000 for the week ended October 24, which was better than expected but still well above historical norms.</p>.<p>"The resurgence in Covid-19 infections and failure to pass additional fiscal relief poses a considerable downside risk to the economy," said Nancy Vanden Houten of Oxford Economics.</p>.<p>The US data came one day after France and Germany announced new restrictions in response to spikes in coronavirus infections.</p>.<p>Investors also are contending with a busy week for earnings reports, with releases later in the day from tech giants Apple, Amazon, Alphabet and Facebook.</p>.<p>Markets are also girding for a potentially messy US election next week, with polls suggesting the possibility of a split control over the main branches of government that could limit Washington's ability to enact fiscal stimulus measures to boost the economy.</p>