US stocks rally on strong GDP growth
Stocks rallied sharply today, with the Dow Jones industrials gaining 172 points on better-than-expected gross domestic product growth last quarter despite the disruptions caused hurricanes Katrina and Rita. The major indexes finished an erratic week higher.
The upswing in economic activity for the July-September quarter soothed a market anxious for signs of the economy’s health amid fears of a downturn. The gross domestic product growth also overshadowed a drop in consumer confidence and a weak forecast from oil company Chevron Corp.
