Stock Market Today: Stocks Give Back GDP Gains After Beige Book

The latest GDP report showed the U.S. economy grew at a rapid-fire rate in the third quarter, but the Fed's Beige Book sparked concerns.

close up of blue stock market chart with red and green candlestick bars
(Image credit: Getty Images)

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.

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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.