US stocks finish higher on the week, with Dow and S&P at records

NEW YORK: US stocks bolted to new records on Friday after the Commerce Department reported that US economy grew much faster in the third quarter than previously estimated.

The Dow Jones Industrial Average advanced 42.06 points (0.26 per cent) to finish at 16,221.14, a new record.

The broad-market S&P 500 rose 8.72 (0.48 per cent) to 1,818.32, also a new record, while the tech-rich Nasdaq Composite Index added 46.61 (1.15 per cent) at 4,104.74.

Analysts said investors were cheered after the Commerce Department raised its estimate for third-quarter gross domestic product growth to an annual rate of 4.1 per cent, from 3.6 per cent.