Stocks opened higher Thursday after data showed the U.S. economy remained strong in the final three months of 2023. However, the main indexes ran out of steam around midday, pressured by a negative earnings reaction for Magnificent 7 stock Tesla (TSLA).
Ahead of the opening bell, the Bureau of Economic Analysis said gross domestic product (GDP) increased at a 3.3% annual rate in Q4, quicker than the 2.0% economists were expecting but slower than Q3's 4.9% spike. GDP growth for all of 2023 was 2.5%, more than 2022's 1.9% rise.
