U.S. Stock Rise, Including Energy and Financials Thursday, May 27, 1:13 PM ET
U.S. GDP for the first quarter was revised downward to 3%, from an estimate last month of 3.2%.
That hasn’t deterred stocks from rising broadly on Thursday.
Gold is relatively flat, while crude oil trades up about 2%.
Energy stocks are trading higher, including Exxon Mobil (NYSE:XOM) up 2%, Chevron (NYSE:CVX) up 1.4%, and ConocoPhillips (NYSE:COP) up 2%.
Financials are trading higher as well: Citi (NYSE:C) shares are up 4%, helped by hedge fund investor Bill Ackman announcing he has taken a 150 million share stake in the company. JP Morgan (NYSE:JPM) well into the green today, trading higher by 3%, and Goldman Sachs (NYSE:GS) trading higher by 2%.
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