💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

US STOCKS SNAPSHOT-U.S stocks rise after GDP, ahead of data

Published 12/23/2008, 09:39 AM
Updated 12/23/2008, 09:45 AM

NEW YORK, Dec 23 (Reuters) - U.S stocks rose on Tuesday as investors digested the final figures for third-quarter gross domestic product and awaited November data on the health of the housing industry.

* Surprises in the figures for November existing and new home sales could have a stronger-than-usual impact because of the holiday-thinned trading volumes.

* The GDP figure, the government's final estimate for that quarter, confirmed that the economy contracted at an annual rate of 0.5 percent as economists had expected. Focus has shifted to the current quarter which is expected to be much weaker.

* The Dow Jones industrial average <.DJI> rose 60.29 points, or 0.71 percent, to 8,580.06. The Standard & Poor's 500 Index <.SPX> added 6.40 points, or 0.73 percent, at 878.03. The Nasdaq Composite Index <.IXIC> edged up 9.53 points, or 0.62 percent, at 1,541.88.

(Reporting by Deepa Seetharaman, Editing by Chizu Nomiyama)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.