Stocks Rise Into Record Territory on GDP Report

Stocks closed at a fresh all-time high on Wall Street Friday, as investors weighed a report showing solid US economic growth, per the AP. Gains in financial, health care, and other sectors offset losses in energy companies as the price of US crude oil slumped for the third straight day. Exxon fell 2.1% after its quarterly profit and revenue missed expectations, and Intel fell 9% after it gave a cautious outlook for the full year. Those results were offset by a report showing the economy grew at a solid 3.2% in the first three months of the year, compared with 2.2% in the fourth quarter. The S&P 500 index rose 13 points, or 0.5%, to 2,939. The Dow Jones Industrial Average gained 81 points, or 0.3%, to 26,543. The Nasdaq gained 27 points or 0.3% to 8,146.

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