S&P registers record close as growth stocks advance
Market Intelligence Analysis
AI-PoweredThe S&P 500 reached a record close, driven by growth stocks and a 4.3% annualized GDP growth rate in the third quarter, while consumer confidence weakened due to job and income anxiety.
Market impact analysis based on bullish sentiment with 75% confidence.
Article Context
STORY: U.S. stocks rose on Tuesday, with the Dow ticking up marginally, the S&P 500 adding just under half a percent to notch a record closing high and the Nasdaq climbing more than half a percent.The Commerce Department said gross domestic product increased at a 4.3% annualized rate in the third quarter, fueled by robust consumer spending. It was the fastest pace in two years and well above economists' estimates.Other data painted a less rosy picture of the economy as U.S. consumer confidence weakened in December amid deepening anxiety over jobs and income.Mike Mussio is president of FBB Capital Partners."Two things can be true at once. So the economy can be marking, you know, very strong numbers, and consumers, people actually buying and selling within the economy, can feel not great. [FLASH] And so it's going to be interesting as we get into the first quarter, how these companies, when they're announcing their fourth quarter, and in a lot of cases, full-year 2025 numbers, what they actually saw in terms of demand. What was the average ticket size at Target or Lowe's or Walmart for that matter?"Stocks on the move Tuesday included many AI-related names, which continued their rebound from last week's selloff that was triggered by concerns about inflated valuations and high capital spending.Shares of Nvidia rose 3%, giving the S&P 500 its biggest boost, while Amazon, Alphabet and Broadcom all gained more than 1%.Shares of ServiceNow dipped 1.5% after the enterprise software maker agreed to buy cybersecurity startup Armis for $7.75 billion in cash.Among other movers, miner Freeport-McMoRan climbed 2.5% and closed at a 15-month high as copper prices touched a record high and Wells Fargo raised its price target on the stock.U.S. stock markets will close at 1 p.m. eastern time on Wednesday, Christmas Eve, and remain shut on Thursday, Christmas Day.
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