US stock market opens lower despite growth revision

By Ovunc Kutlu

NEW YORK

The stock market opened lower Thursday despite the upward revision in second quarter economic growth.

The Dow Jones fell 27 points to begin trading at 22,312 points, and the S&P 500 lost two points to 2,504 points.

The Nasdaq decreased 13 points to start the day at 6,439 points.

The U.S. economy's growth rate for the second quarter of the year was revised up to 3.1 percent from 3 percent, the Department of Commerce announced earlier.

This also marked the highest-quarterly growth rate since the first quarter of 2015 when the economy expanded by 3.2 percent.

American economy grew by 1.2 percent in the first quarter of 2017.