Stocks Climb After Stronger GDP Report

Dow ends day up 27
By Newser Editors and Wire Services
Posted Aug 30, 2017 3:16 PM CDT
Trader Jeffrey Vazquez, left, works on the floor of the New York Stock Exchange, Wednesday, Aug. 16, 2017.   (AP Photo/Richard Drew)

(Newser) – US stocks are finishing higher, led by technology and health care companies, retail and travel firms, and banks, as investors cheered a report of stronger economic growth. The Commerce Department said Wednesday that the economy grew 3% in the second quarter, more than it previously estimated. Big names helped lead the way. Microsoft rose 1.3% and Amazon gained 1.4%. Bank of America rose 1.7% as financial companies advanced. Bond prices declined and high-yielding stocks like utilities and household goods makers lagged the rest of the market. The Standard & Poor's 500 index rose 11 points, or 0.5%, to 2,457, the AP reports. The Dow Jones industrial average gained 27 points, or 0.1%, to 21,892. The Nasdaq composite climbed 66 points, or 1.1%, to 6,368. (Read more stock market stories.)

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