Market Wrap: Wall Street Soars to Record Highs as Gold Hits Historic Levels
US stock indexes closed Tuesday higher for the fourth consecutive session, setting fresh record closing levels, supported by economic data showing stronger-than-expected US growth.
Third-quarter GDP data showed the US economy expanded at an annual rate of 4.3%, beating market expectations of 3.2% and marking the strongest quarterly growth since the third quarter of 2023, boosting investor confidence.
Major indexes advanced on the back of strong gains in technology stocks, while some individual shares surged on positive drug-related developments.
In commodities, precious metals continued to rally, with gold futures hitting a new record high at $4,515 per ounce and silver soaring to $71.60 per ounce, marking all-time highs.
The 10-year US Treasury yield held near 4.17%, while the US dollar index slipped 0.4% amid improved risk appetite.
Oil prices also rose on better global sentiment, with US crude climbing to about $58.45 per barrel.
Asian markets posted mixed but generally positive performances, while European stocks ended slightly higher ahead of the Christmas holiday on thin trading volumes.
Third-quarter GDP data showed the US economy expanded at an annual rate of 4.3%, beating market expectations of 3.2% and marking the strongest quarterly growth since the third quarter of 2023, boosting investor confidence.
Major indexes advanced on the back of strong gains in technology stocks, while some individual shares surged on positive drug-related developments.
In commodities, precious metals continued to rally, with gold futures hitting a new record high at $4,515 per ounce and silver soaring to $71.60 per ounce, marking all-time highs.
The 10-year US Treasury yield held near 4.17%, while the US dollar index slipped 0.4% amid improved risk appetite.
Oil prices also rose on better global sentiment, with US crude climbing to about $58.45 per barrel.
Asian markets posted mixed but generally positive performances, while European stocks ended slightly higher ahead of the Christmas holiday on thin trading volumes.
