Historic GDP Report Propels S&P 500 to All-Time High

The S&P 500 surged to a record closing high on Thursday, propelled by a surprisingly robust U.S. economic growth report that bolstered investor confidence. The index's ascent came as fresh data revealed the economy expanded at a stunning 4.3% annualized rate in the third quarter, far exceeding expectations and signaling underlying economic strength.

Market Reaction and Sector Performance

While the S&P 500 celebrated its new peak, the Dow Jones Industrial Average experienced a slight pullback, highlighting a mixed session. The standout performance was driven by strong earnings reports from major tech and industrial companies, which benefited from the positive economic outlook. Meanwhile, gold prices continued their remarkable rally, hitting a new milestone as investors sought hedges amid the equity market's exuberance.

In after-hours trading, stock futures showed little movement, indicating a cautious pause as traders digested the day's gains and awaited further corporate earnings. Market analysts noted that the GDP figure, a significant upward revision from earlier estimates, provided concrete evidence that the economy is weathering higher interest rates better than anticipated.

  • S&P 500 closes at a new all-time record high.
  • Third-quarter GDP revised sharply upward to 4.3% growth.
  • Gold prices surge to a new milestone amid the rally.
  • Dow Jones Industrial Average slips slightly in a mixed session.