S&P 500 Sets Intraday Record

The S&P 500 and Dow Jones Industrial Average opened above their previous record levels on Tuesday, helped by a surprise upward revision to third-quarter GDP report. The revised GDP report showed that the economy expanded even faster than previously reported; however, analysts warned that the growth rate is likely unsustainable. U.S. home prices were just about unchanged in September, according to S&P/Case-Shiller's 20-city index. Investors await more data on housing and a report on consumer confidence, due at 10 a.m. Eastern Time. The S&P 500 opened 3 points, or 0.1%, higher at 2,072, setting new intraday record. The Dow Jones Industrial Average added 28 points, or 0.2%, to 17,845. The Nasdaq Composite began the day up 14 points, or 0.3%, at 4,769.

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