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Dow closes nearly 200 points higher on better-than-expected GDP report, Nasdaq tumbles as Meta shares plummet

Posted on AllSides October 27th, 2022
From The Center

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.

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