US STOCKS-Wall St edges up after GDP, consumer confidence data

martes 25 de noviembre de 2014 11:04 GYT

* Dow, S&P push slightly further into record territory

* Q3 GDP read seen supporting market going forward

* Tiffany rallies after results, Workday down

* Dow flat, S&P 500 up 0.1 pct, Nasdaq up 0.2 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, Nov 25 (Reuters) - U.S. stocks edged higher on Tuesday following a reading on economic growth that was much stronger than expected, but sharper gains were difficult to come by in a quiet week with major indexes at records.

The Commerce Department raised its estimate of third-quarter gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month. The reading was also stronger than the 3.3 percent rate that had been expected, pointing to strengthening fundamentals that should support the economy for the rest of the year.

"This continues the general trend of data pointing to a strong economy, and it indicates that the surge of activity we've seen is valid," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

Equities have been strong of late. The S&P is on track to rise for the 13th time in the past 15 sessions, and all three major indexes are coming off five-week streaks of gains. Both the Dow and S&P are at record levels, and the S&P is up more than 13 percent from an intraday low in mid-October.   Continuación...