US Stocks Flat Despite GDP Revised Up

US stocks opened flat on Thursday despite the upward GDP revision.

The Dow Jones added just eight points to 39,768 at 9.59 a.m. EDT (1359GMT). The S&P 500 rose also four points to 5,252.

The Nasdaq, meanwhile, increased just five points 16,405.

American economy expanded 3.4% in the fourth quarter of 2023, according to the US Commerce Department's third and final reading released earlier. The figure is revised up from the second reading of 3.2% made last month.

The VIX volatility index, also known as the fear index, rose 1.25% to 12.94. The 10-year US Treasury was unchanged at 4.298%.

The dollar index was steady at 104.36, while the euro lost 0.14% to $1.0811 against the greenback.

Precious metals were mixed, with gold rising 0.6% to $2,208 per ounce but silver losing 0.3% to $24.58.

Oil prices increased more than 1.1% with global benchmark Brent crude at $86.36 per barrel and US benchmark West Texas Intermediate crude at $82.45. -