US STOCKS-Dow ends above 18k for first time on strong GDP report

martes 23 de diciembre de 2014 17:24 GYT
 

* Dow, S&P rise for 5th day, both end at records

* Q3 GDP revised up to 5 percent annual pace

* Gains broad, but biotechs have worst day since April

* Dow up 0.4 pct, S&P up 0.2 pct, Nasdaq off 0.3 (Updates to close)

By Ryan Vlastelica

NEW YORK, Dec 23 (Reuters) - U.S. stocks rose on Tuesday, with the Dow closing above 18,000 for the first time ever and the S&P 500 ending at a record after an unexpectedly strong report on economic growth.

The Nasdaq ended modestly lower, pressured by the biggest selloff in biotech names in many months, while trading was light ahead of the Christmas holiday. Markets will close early on Wednesday and will be closed all of Thursday.

Both the Dow and S&P 500 hit intraday records in their fifth-straight day of gains. The Dow rose as high as 18,069.22 and is up about 175 percent from a 12-year closing low hit on March 9, 2009. The S&P's record close was its 51st such record this year.

The final estimate for third-quarter U.S. economic growth was revised up to a 5 percent annual pace, its quickest in 11 years and easily topping expectations for growth of 4.3 percent.   Continuación...