Stocks Ended Higher with Economic Growth

U.S. stocks edged higher on Thursday as data pointed to stronger-than-expected economic growth, though geopolitical uncertainty over Syria limited gains. The Dow Jones industrial average was up 16.44 points, or 0.11 percent, at 14,840.95. The Standard & Poor’s 500 Index was up 3.21 points, or 0.20 percent, at 1,638.17. The Nasdaq Composite Index was up 26.95 points, or 0.75 percent, at 3,620.30.

The U.S. economy grew much faster in the second quarter than previously believed, mainly because of an improved trade picture and higher demand for American-made goods and services. Gross domestic product rose at a 2.5% annual rate in the April-to-June period instead of an initial reading of 1.7%, the Commerce Department said Thursday.

Retail gasoline prices rose 1.8 cents a gallon Thursday, the largest one-day increase since July 17, travel and leisure group AAA said. With the Labor Day holiday just around the corner, Thursday’s national average was $3.56 for a gallon of regular gasoline. It was $3.53 a week ago.

The battle to boost the minimum wage escalated Thursday when thousands of workers at fast-food restaurants in 50 U.S. cities walked off the job to demand a “decent” wage.