Wall Street up ahead of housing reports

Special Report:Global Financial Crisis

NEW YORK, Dec. 23 (Chinese media) -- Wall Street opened higher Tuesday, after a report on the gross domestic product met expectations and as investors awaited November existing and new home sales.

The U.S. Commerce Department said third-quarter gross domestic product fell at an annual rate of 0.5 percent, in line with analysts' expectations and matching the government's estimate a month ago.

The department will also release a report on last month's new home sales, and the National Association of Realtors will release figures on existing home sales. Economists had forecast that both will decline.

The Dow Jones rose 48.74 to 8,568.51. Broader indexes also moved higher. The Standard Poor's 500 index rose 4.57 to 876.20;and the Nasdaq climbed 6.72 to 1,539.07.