Wall Street Soars on Positive Earnings Report
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vichie81/iStockphoto/Thinkstock(NEW YORK) — The markets rallied from a down day Wednesday on the back of positive earnings reports.
The Dow Jones Industrial Average soared 221.11 point, climbing to 17,195.42.
The Nasdaq jumped to 4,566.14, gaining 16.91 on the day, while the S&P 500 climbed closer to the 2,000 mark, gaining 12.35 to close at 1,994.65.
The Department of Commerce announced on Thursday that the national gross domestic product increased at an annual rate of 3.5 percent in the third quarter — exceeding private-sector forecasters’ expectations.
“Today’s advance estimate of real GDP shows that America’s economy is coming back,” Secretary of Commerce Penny Pritzker said. “Recent data show that the U.S. economy has rebounded more strongly than most others around the world, leading the global recovery.”
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