Stocks Rise as GDP Growth Revised Up, Inflation Down; Yields Retreat on Rate Outlook
• U.S. stocks open higher as GDP growth revised up to 5.2% in Q3; inflation revised down
• Upward revisions for business investment and structures in Q3 GDP
• Core PCE price index revised down to 2.3% in Q3 from 2.4% previously
• 10-year Treasury yield falls to 4.28% as markets price in potential peak in rates
• Weak 7-year Treasury auction a small hiccup; focus stays on outlook for shifting Fed policy