GDP data released Thursday showed the economy expand at an annualized rate of 2.9% during the fourth quarter, the Commerce Department said. That’s above the 2.8% Dow Jones estimate, but represents a slight cooldown from the third-quarter reading.
Durable goods orders over the final month rose 5.2% for the best annualized gain since the summer of 2020.
Tesla reported record profits for the fourth quarter and the full year, but its profit margins were tighter due to higher costs, recent price cuts, and sales in the quarter that were weaker than hoped. The leading electric vehicle maker posted adjusted earnings of $1.19 per share in the quarter, up from 85 cents a share a year earlier, and its previous record of $1.07 a share in the first quarter.
The Benchmark 10-year Treasury note yields were modestly higher at 3.480% in New York trading.
February gold futures last traded at $1,933.40 an ounce, down 0.47% on the day.
U.S. crude rose 1.22% to $81.13 per barrel and Brent was at $87.15, up 1.2% on the day.