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Equities Higher as Markets Weigh Macro Data, Corporate Earnings

MT Newswires Live12-20 04:50

US benchmark equity indexes were higher ahead of Thursday's close as markets evaluated the latest economic data and corporate earnings.

The Dow Jones Industrial Average was up 0.5% at 42,517.8, while the S&P 500 and the Nasdaq Composite rose 0.3% each to 5,889.5 and 19,444.1, respectively. Among sectors, utilities paced the gainers, while real estate saw the biggest drop.

US real gross domestic product rose at an annual rate of 3.1% in the third quarter, according to a final estimate by the Bureau of Economic Analysis. A prior estimate by the BEA showed 2.8% growth, which was the consensus in a Bloomberg-compiled poll.

US existing home sales rose more than expected sequentially last month and logged the biggest year-over-year increase since June 2021, according to National Association of Realtors data.

Weekly applications for unemployment insurance in the US declined more than expected, government data showed.

The US 10-year yield was up 7.8 basis points at 4.58%, while the two-year rate dropped 3.4 basis points to 4.32%.

Nike (NKE), FedEx (FDX) and BlackBerry (BB) are scheduled to report results after the closing bell.

West Texas Intermediate crude oil was down 1% at $69.85 a barrel.

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