Reuters / Brendan McDermid
- US stocks jumped Thursday as investors cheered strong GDP data and Tesla earnings.
- GDP grew 2.9% over the fourth quarter, above estimates of 2.8%.
- Tesla rallied almost 11% after posting record results after the bell on Wednesday.
US stocks jumped on Thursday as investors cheered a surprise upside in fourth quarter GDP, bucking some fears of a looming recession.
All three indexes ended the day in the green, with a gain in the Nasdaq Composite led by Tesla, which jumped almost 11% on Thursday after beating earnings estimates and posting record revenue figures.
GDP grew 2.9% annualized over the fourth quarter, according to the Commerce Department, above the 2.8% estimated by economists.
Tesla, meanwhile, reported a record revenue of $24.32 billion over the last quarter, above estimates of $24.16 billion.