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Stocks rise after better-than-expected GDP report

Stocks rise after better-than-expected GDP report

Stocks are rising in early trading after a new report says the U.S. economy grew at its fastest pace in six years.
The Commerce Department says the gross domestic product grew at an annual rate of 5.7 percent during the fourth quarter, easily topping economists' forecast for growth of 4.5 percent.
The strong GDP report could get the market back on track after a 10-month rally came to a screeching halt over the past week. Shares have been falling since hitting a 15-month high last week.
The Dow Jones industrial average is up 43.15, or 0.4 percent, at 10,163.61. The Standard & Poor's 500 index is up 5.77, or 0.5 percent, at 1,090.30, while the Nasdaq composite index is up 19.73, or 0.9 percent, at 2,198.73.


Updated : 2021-04-16 01:17 GMT+08:00