Dow closes nearly 200 points higher on better-than-expected GDP report, Nasdaq tumbles as Meta shares plummet
The Dow Jones Industrial Average closed higher Thursday after new data showed third-quarter GDP grew faster than expected and hinted at waning inflation, encouraging investors to buy stocks linked to the health of the economy.
The Dow climbed 194.17 points, or 0.6%, to end at 32,033.28 for its fifth day of wins. Shares of Caterpillar, McDonald’s and Honeywell led the 30-stock index higher after the companies reported better-than-expected earnings. The Dow traded up as much as 549 points during the day.