Wall Street opened higher despite weakening GDP data

WALL STREET - NEW YORK. Wall Street's main indexes opened higher on Wednesday (2/28) after data showed U.S. economic growth slowed slightly more than initially thought in the fourth quarter, weakening the case for faster rises in interest rates.

The Dow Jones Industrial Average rose 98.48 points, or 0.39 percent, to 25,508.51. The S&P 500 gained 12.71 points, or 0.46 percent, to 2,756.99. The Nasdaq Composite added 41.00 points, or 0.56 percent, to 7,371.36.

The U.S. Commerce Department said gross domestic product expanded at a 2.5 percent annual rate, instead of the previously reported 2.6 percent pace.