GDP report drives stocks higher after 4-day slide

Source: Associated Press

NEW YORK — Investors heartened by news of a stronger-than-expected economy are going back into the stock market after a four-day slide.

The Commerce Department's report Thursday that gross domestic product rose at an annual rate of 3.5 percent in the third quarter is the surest sign yet that the recession has ended , even though problems such as unemployment and weak consumer spending remain.

The strong GDP report is weakening demand for safe-haven assets like Treasurys. A drop in the dollar is pushing commodity prices higher, helping to boost energy and materials stocks.

At midday, the Dow Jones industrial average is up 101 at 9,864. The Standard & Poor's 500 index is up 13 at 1,055, and the Nasdaq composite index is up 27 at 2,087.

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Investors heartened by news of a stronger-than-expected economy are going back into the stock market after a four-day slide.

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