Dow, S&P 500 Score Record Closes after GDP Data

U.S. stocks rallied on Friday, with the Dow Jones Industrial Average and the S&P 500 achieving
record closes, as an unexpectedly strong report on U.S. growth boosted investor confidence that
the economy could handle a wind-down of Federal Reserve stimulus. The Dow advanced 42.06 points,
or 0.26%, to end at 16,221.14. It rose 3% for the week . The S&P 500 gained 8.72 points, or 0.48%,
to close at 1,818.32, as it added 2.4% for the week. The Nasdaq rose 46.61 points, or 1.15%, to
end at 4,104.74, gaining 2.6% for the week.

The U.S. economy grew at its fastest pace in almost two years in the third quarter. Gross domestic
product grew at a 4.1 percent annual rate instead of the 3.6 percent pace reported earlier this
month, the Commerce Department said in its third estimate.

President Barack Obama said Friday that insurance sign-ups are surging now that the government’s
website is working better for consumers. A total of more than 1 million people have enrolled since
Oct. 1, Obama said at his end-of-the-year press conference.

Janet Yellen, an unwavering advocate of the Federal Reserve’s aggressive steps to boost the U.S.
economy, on Friday took a big step toward becoming the first woman to chair the central bank as
her nomination cleared a Republican procedural hurdle in the Senate.