S&P 500 Hits Record Close After GDP Beats Forecasts

The S&P 500 rose to a record after third-quarter U.S. growth data showed the economy is powering along.

• The GDP report released early Tuesday said the economy grew at a 4.3% annual pace in the three months through September, the fastest clip in two years.
• That was faster than in the previous quarter, and considerably above the 3.2% rate that economists polled by The Wall Street Journal had expected.
• A pickup in consumer spending was the biggest growth driver, the Bureau of Economic Analysis said. The report had been delayed by the government shutdown.

Stocks wavered following the report, then turned higher later in the day. The S&P ended the day 0.5% higher at 6909.79, its first record close since Dec. 11. President Trump posted that he thought stocks would be rallying more if investors weren’t worried about interest rates.