Preliminary 3Q GDP was revised upward to 4.9% from the advance report of an annualized rate of growth of 3.9%. Personal consumption fell from 3.0% to 2.7%, slightly below the forecast of 2.9%, while the core PCE Price Index, a broad measure of inflation that excludes food and energy, held at 1.8%.
New home sales rose 1.7% in October to an annual rate of 728,000 units, below the forecast of 750,000 units.
The Dow Jones Industrial Average gained 22 points (0.2%) to close at 13,312, the S&P 500 Index rose 1 point to 1,470, and the Nasdaq Composite advanced 5 points (0.2%) to 2,668. Crude oil finished up $0.48 to $91.10 per barrel, and gold ended $7.40 lower at $792.90 per ounce.
Magnificent Seven Update
