Stock market today: S&P 500, Nasdaq, Dow turn higher after surprise GDP growth trims rate-cut bets

Economic Growth - The US economy grew at a 4.3% annualized rate in the third quarter, significantly higher than the expected 3.3%, indicating continued economic resilience [3] - Consumer spending remained strong over the summer, contributing to the robust GDP growth [3] Market Reactions - Following the GDP report, traders reduced expectations for a near-term interest rate cut, with over 85% odds now pricing in the Federal Reserve maintaining rates [4] - The S&P 500 and Nasdaq Composite rose approximately 0.4%, while the Dow Jones Industrial Average gained around 0.2%, reflecting positive market sentiment [1] Consumer Confidence - The Conference Board's measure of December consumer confidence declined for the fifth consecutive month, suggesting persistent negative economic sentiment among consumers [4] Corporate Developments - Novo Nordisk's US-listed stock experienced a premarket surge after receiving official US approval to market its Wegovy weight-loss pill, indicating positive corporate news impacting stock performance [5]