Stocks jumped higher out of the gate thanks to a better-than-expected reading on the economy. However, the excitement faded throughout the session as investors took in the latest Beige Book and turned to tomorrow's key inflation update.
In economic news, data from the Bureau of Economic Analysis showed the U.S. economy grew at a faster pace than previously thought in the third quarter. Specifically, Q3 gross domestic product (GDP) came in at 5.2% vs the initial 4.9% estimate. However, the data also showed that consumer spending wasn't as robust as in the first reading.
