Stock market opens higher, extending gains

US stocks open higher, extend gains, despite slower growth at beginning of the year

Associated Press

NEW YORK (AP) -- U.S. stocks are rising in early trading, extending gains from the day before.

The Dow Jones industrial average was up 134 points, or 0.9 percent, 10 minutes after the market opened Wednesday. The Dow jumped 100 points in the previous session following good news about the economy.

The Standard & Poor's 500 was up 15 points, or 0.9 percent, at 1,602. Stocks of utilities rose the most.

The Nasdaq composite was up 27 points, or 0.8 percent, at 3,374.

Investors shrugged off a report that the U.S. economy grew at an annual rate of 1.8 percent from January through March, much slower than the 2.4 percent previously estimated.

Most economists see the economy picking up at a faster clip during the second half of the year.

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