NEW YORK, Nov 29 (AFP): Wall Street stocks advanced early Wednesday, extending a positive run following updated US growth data and a hefty share buyback announcement from General Motors.
The US economy saw GDP growth of 5.2 percent at an annual rate in the third quarter, up from the prior 4.9 percent estimate, the Commerce Department said in a report.
Yields on US Treasury notes retreated despite the strong US growth data. Investors don't expect the Federal Reserve to increase interest rates again in light of moderating inflation.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 35,469.06.
The broad-based S&P 500 advanced 0.6 percent to 4,583.53, while the tech-rich Nasdaq Composite Index jumped 0.9 percent to 14,413.05.
US stocks rise after strong economic growth data
FE Team | Published: November 30, 2023 00:25:32
US stocks rise after strong economic growth data
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