Wall Street Gets Big Boost from Economic Growth Report
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iStock/Thinkstock(NEW YORK) — Investors awoke Friday to the news that the economy is still growing stronger. In the third quarter of the year the U.S. economy grew at a faster than projected rate – 4.1 percent. That number is helping to boost optimism both on Wall Street and Main Street that the country is ending 2013 in a good place and that 2014 could be a better year.
Investors cheered Friday’s news and pushed the Dow Jones Industrial Average to its 47th record close of the year. The Dow finished the day up 42 points to close at 16,221.08. It was also a record breaking day for the S&P 500. It closed up 9 points at 1,818.31.
With just a handful of trading days left in 2013 the Dow is up almost 24 percent, the S&P up 27.5 percent, and the NASDAQ is up 36 percent.
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