Stock market today: Dow, S&P 500 eye records, Nasdaq gains as Wall Street flies high into Christmas holiday

Market Performance - US stocks experienced an upward trend in midday trading, with the S&P 500 reaching a record high above 6,900, indicating a positive sentiment heading into the Christmas holiday [1][2] - The Dow Jones Industrial Average led the gains, increasing by 0.5%, while the S&P 500 and Nasdaq Composite rose by 0.3% and nearly 0.2%, respectively [1] Economic Indicators - The US GDP growth for the third quarter was reported at 4.3%, significantly higher than forecasts, driven by strong consumer spending [3] - Unemployment claims decreased for the second consecutive week, suggesting a nominally improving economy, although consumer confidence remains weak [5] Federal Reserve Outlook - The GDP data has led to a reduction in expectations for a January rate cut by the Federal Reserve, with only slightly more than 13% of traders anticipating this outcome [4] - Despite the current outlook, most traders still expect two rate cuts by the end of next year, reflecting ongoing divisions within the Federal Reserve [4] Commodity Market - Precious metals saw significant gains, with gold reaching an all-time high above $4,500 per ounce, while silver also advanced to a record [6] - In contrast, platinum experienced a decline of over 3% [6] - Oil prices stabilized after a recent increase [6] Company-Specific News - Intel managed to limit its losses to around 1% after reports indicated that Nvidia had halted a test involving Intel's fabrication process for advanced chips [6]