- Flickr’Wesley Fryer
Meanwhile, bitcoin had a wild day of trading, surging past $11,000 a day after it rose above $10,000, before falling by more than 20%.
Here’s the scoreboard:
- Dow: 23,940.68, +103.97, (0.44%)
- S&P 500: 2,626.07, -0.97, (-0.04%)
- Nasdaq: 6,824.39, -87.97, (-1.27%)
- The second estimate of third-quarter gross domestic product showed the US economy grew at a 3.3% annualized rate. This was the strongest growth since Q3 2014.
- Chipotle founder and CEO Steve Ells said on Wednesday he would step down and the chain would look for a new boss. This is the second time in less than a year that Chipotle has announced a CEO change.
- Nasdaq is preparing to launch bitcoin futures contracts. Two Chicago-based exchanges, CME and CBOE, have also announced bitcoin futures products, which would allow investors to bet on the future price of bitcoin.
- Amazon said Cyber Monday was its single-biggest shopping day ever. Though the company enjoyed a 17% increase in Thanksgiving holiday sales from the previous year, its stock was under pressure on Wednesday as investors rotated out of the broader tech space.