U.S. stocks advance as Dow Jones, S&P 500 hit fresh records
NEW YORK, NEW YORK - APRIL 22: Traders work on the floor of the New York Stock Exchange during morning trading on April 22, 2025 in New York City. Stocks rose as the market opened following a rough day on Wall Street amid U.S. President Donald Trump’s latest criticism of Federal Reserve Chair Jerome Powell. The Dow Jones opened up over 500 points, the S&P 500 gained 1.2%, and the Nasdaq opened 1.3%.
Michael M. Santiago/Getty Images/AFP
Two of Wall Street's major indexes closed Thursday at record highs, buoyed by an upward revision to second-quarter US GDP and strong results from AI chip giant Nvidia.
The Dow Jones Industrial Average climbed 0.16 percent to a record 45,636.90, while the broad-based S&P 500 Index rose 0.32 percent to 6,501.86, also a record.
The Nasdaq Composite Index added 0.53 percent to 21,705.16.
The United States saw its gross domestic product grow at an annualized rate of 3.3 percent in the second quarter, according to an official estimate updated Thursday -- higher than previously calculated and above market expectations.
The initial GDP estimate for the period, published in late July, showed annualized growth of 3 percent, while investors had expected a revision to only 3.1 percent.
Meanwhile, markets continue to be buoyed by the prospect of a Federal Reserve rate cut at its September meeting, which could stimulate economic activity in the world's biggest economy.