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Market Pulse

Jan. 27, 2022, 9:37 a.m. EST

Dow jumps around 300 points and Nasdaq Composite rises after U.S. GDP grew 6.9% in last quarter

U.S. stock benchmarks headed higher on Thursday, as investors attempted to digest a series of economic reports, including a fourth-quarter first estimate of domestic gross domestic product that came in better than expected.

Wall Street, however, continues to parse the potential impact of a Federal Reserve that signaled at the conclusion of its two-day policy meeting on Wednesday that it was intent on lifting benchmark rates several times starting in March to combat inflationary pressures.

  • The Dow Jones Industrial Average (DOW:DJIA) rose 327 points, or 1%, to 34,480.

  • The S&P 500 index (S&P:SPX) climbed 1%, or 45 points, to reach 4,394.

  • The Nasdaq Composite Index (NASDAQ:COMP) advanced 1%, or 135 points, to around 13,672.

Link to MarketWatch's Slice.