Rain showers this morning with overcast skies during the afternoon hours. High 61F. Winds SSE at 10 to 20 mph. Chance of rain 60%..
Windy with rain showers. Low 54F. Winds SSE at 25 to 35 mph. Chance of rain 80%. Winds could occasionally gust over 50 mph.
Updated: December 23, 2025 @ 7:23 am
NEW YORK (AP) — Stocks are holding near their record levels and Treasury yields are rising in the bond market Tuesday after the government reported that the U.S. economy grew at a surprisingly strong pace in the third quarter.
The S&P 500 rose 0.1% and is just below the all-time high it set earlier this month. The Dow Jones Industrial Average rose 4 points, or less than 0.1%, as of 9:54 a.m. Eastern. The Nasdaq composite rose 0.1%.
A majority of stocks with the S&P 500 were losing ground, but the market was being bolstered by several big technology stocks. Nvidia rose 0.5% and Google's parent company, Alphabet, rose 1.5%. They are among several companies with outsized valuations that tend to have more impact on the broader market's direction.
Novo Nordisk jumped 9.7% after U.S. regulators approved a pill version of the blockbuster weight-loss drug Wegovy, the first daily oral medication to treat obesity.
Wall Street is getting the latest economic updates during an otherwise quiet holiday-shortened week. Markets in the U.S. will close early Wednesday for Christmas Eve and remain closed for Christmas on Thursday.
The U.S. economy grew at a 4.3% annual rate during the third quarter. That builds on 3.8% growth during the second quarter and marks a sharp turnaround from the first quarter, when the U.S. economy shrank for the first time in three years.
The latest report also showed that stubborn inflation continues to hover over the economy. The Fed’s favored inflation gauge — called the personal consumption expenditures index, or PCE — climbed to a 2.8% annual pace last quarter, up from 2.1% in the second quarter.
The yield on the 10-year Treasury rose to 4.20% from 4.15% just before the report on gross domestic product for the third quarter was released. The yield on the two-year Treasury, which more closely tracks expectations for Federal Reserve actions, rose to 3.56% from 3.49% just prior to the report’s release.
Markets were mixed in Asia and Europe.
Matt Ott and Elaine Kurtenbach contributed to this report.
Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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