S&P 500, Nasdaq end at records as stocks shake off third-quarter GDP slowdown

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Updated to correct percentage change for Nasdaq Composite.

Stocks ended higher Thursday, with the S&P 500 and Nasdaq Composite closing at records as investors shook off data showing U.S. economic growth slowed sharply in the third quarter. A strong run of corporate earnings continued. The Dow Jones Industrial Average DJIA, +0.25% rose around 239 points, or 0.7%, to finish near 35,729, according to preliminary figures. The S&P 500 SPX, +0.19% advanced around 45 points, or 1%, to end near 4,596, topping its previous record close set on Tuesday. The Nasdaq Composite COMP, +0.33% ended near 15,448, surging 213 points, or 1.4%, to exceed the record close set on Sept. 7. The U.S. economy grew at an annualized rate of 2% in third quarter, according to an initial reading of gross domestic product for the period. That marked the slowest growth rate since the 2020 recession and was far weaker than expectations of 2.8%, slowing from 6.7% in the second quarter.

This article was originally published by Marketwatch.com. Read the original article here.

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