Stock Market Today: Stocks Close Higher After GDP, Tesla Earnings

Government data showed the U.S. economy remained resilient at the end of 2023.

Red Tesla logo with black background
(Image credit: Karol Serewis/SOPA Images/LightRocket via Getty Images)

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.

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.