Dow Jones: U.S. Stocks Gain On Strong GDP Data
ICM Brokers | Sep 29, 2014 02:41AM ET
Dow Jones
U.S. stocks rose on Friday as investors applauded robust U.S. gross domestic product data. U.S. stocks gain on strong GDP data; Dow rises 0.99% Stocks gain on upbeat U.S. economic growth report At the close of U.S. trading, the Dow 30 rose 0.99%. Stocks rose after the Commerce Department said U.S. gross domestic product expanded at an annual rate of 4.6% in the second quarter, in line with the consensus forecast, after contracting by 2.1% in the first three months of the year. U.S. second quarter GDP was initially reported to have increased by 4.2%. The positive data fueled already growing expectations for rate hikes to kick in earlier next year than once anticipated, though expectations for a more robust economy boosted stock prices by fueling hopes for beefier top corporate lines. Separately, the Thomson Reuters/University of Michigan final consumer sentiment index remained unchanged at 84.6 this month, just shy of expectations for an uptick to 84.7 though solid enough to boost stock prices.
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