The Dow Jones Industrial Average surged Thursday after the economy grew at a faster-than-expected pace in the third quarter.
The 30-stock index popped 490.89 points, or 1.9%, to begin Thursday at 32,330.
The S&P 500 recovered 21.05 points to 3,851.65.
The NASDAQ sank 11.67 points to 10,959.32.
For the week, all the major averages remain in positive territory, with the Dow and S&P up more than 2% and NASDAQ roughly 1% higher. The Dow is on pace for its fourth positive week in a row since its five-week streak ended in November 2021.
U.S. GDP increased increased at a 2.6% annualized pace for the period, against the Dow Jones estimate for 2.3% growth. The report, the first quarter of positive growth for 2022, eased investors' concerns about a recession.
But the tech sector continued its recent woes, which have weighed down the NASDAQ. Shares of the Facebook parent company plummeted 24% on a weak fourth-quarter forecast and disappointing third-quarter earnings. The company also said it would lose even more money next year building out the metaverse. The report led to several analysts downgrading the stock.
Comcast gained 8% in price and McDonald's shares traded up 2.9%, following earnings reports that beat expectations before the bell.
Cigarette company Altria Group shed 1.7% after missing expectations on earnings per share and revenue. Big technology earnings continue Thursday with results from Amazon and Apple.
Treasury prices gained, lowering yields to 3.95% from Wednesday's 4.01%. Treasury prices and yields move in opposite directions.
Oil prices heightened $1.38 to $89.29 U.S. a barrel.
Gold prices dipped 40 cents to $1,668.80 U.S. an ounce.