The Dow Jones Industrial Average closed above 18,000 for the first time Tuesday, as U.S. stock markets hit new highs in the wake of a strong report on economic growth.
The S&P 500 also hit a record high of 2,086.75 on Tuesday, finishing the day up roughly two-tenths of a percentage point.
The Commerce Department reported Tuesday morning that gross domestic product grew at a revised 5 percent annual rate, adjusted for inflation, in the third quarter. That was the highest quarterly growth since 2003 and followed second-quarter growth of 4.6 percent.
The surprisingly strong GDP growth was enough for investors to ignore underwhelming reports on new-home sales and durable goods also released Tuesday.
With just five trading days left in the year, the Dow is up over 10 percent in 2014. The S&P 500 has gained nearly 14 percent.
