S&P 500 surges to record after strong US economic report

NEW YORK, United States — The S&P 500 powered to a fresh record Tuesday following data showing surprisingly robust third-quarter US economic growth as markets hope for a year-end “Santa Claus Rally.” All three major Wall Street indices advanced, shaking off early choppiness after the strong US gross domestic product report sparked talk that the Federal Reserve could refrain from further interest rate cuts. “The GDP number was unambiguously good and eventually markets come around to the realization that good news is good news,” said Art Hogan of B. Riley Wealth Management. “Unfortunately, the knee-jerk reaction was: ‘If the economy is […]... Keep on reading: S&P 500 surges to record after strong US economic report