America’s economy has grown for the third quarter in a row, albeit at a slightly slower rate than had been predicted.
Official figures show US gross domestic product expanded at an annual rate of 3.2 per cent in the first three months – a rate held back by slower growth in exports and a rise in imports.
But it was America’s resurgent desire to go shopping which proved a major boost – spending twice as quickly as they did in the last three months of 2009.
Wall Street opened up slightly, gaining 0.1 per cent in pre-market trading.
The Dow was held back by Goldman Sachs which fell nearly 4 per cent after the Wall Street Journal reported that federal prosecutors have begun a criminal investigation into possible securities fraud at the investment bank.
Oil exploration company Transocean shed value after major losses from the oil-disaster in the Gulf of Mexico.
The price of oil rose to top 87 dollars a barrel