Feedback
Business

Stocks Close Higher in Rebound Rally on Economy News

Q2 GDP (revised) up 4.6% 3:36

U.S. stocks rose sharply on Friday, rebounding after Wall Street's hardest knock in nearly two months, as the government raised its estimate of economic growth in the second quarter and consumer sentiment rose in September. Data from the Commerce Department had gross domestic product increasing at a revised 4.6 percent annualized rate, up from the prior estimate of 4.2 percent.

The Thomson Reuters/University of Michigan's final read on consumer sentiment climbed to 84.6 in September from 82.5 the month before. After a 198-point jump, the Dow Jones Industrial Average was up 166.97 points at 17,112.77 shortly after the closing bell. The S&P 500 added 16.78 points to 1,982.77, and the Nasdaq gained 45.45 points to 4,412.19.

IN-DEPTH

-- Kate Gibson, CNBC