Robust growth propels US stocks; Dow crosses 18,000 mark

Dubai: Better than expected growth data propelled stocks indices in the United States, the world’s largest economy, on Tuesday, extending gains from the previous sessions.

The Standard & Poor’s 500 climbed to hit a new record of 2,085.34, before trading 0.28 per cent higher at 2,084.34. The Dow Jones Industrial Average topped 18,000 points, and last traded at 18,012.84, up 0.30 per cent.

US GDP surged by 5 percent in the third quarter, expanding at the fastest pace since the same period of 2003, as U.S. consumers and businesses spent more than previously estimated.