Wall Street closes higher after growth revision

Second quarter revised up to 3.1 percent

By Ovunc Kutlu

NEW YORK (AA) - Wall Street closed higher Thursday after the U.S. second quarter economic growth rate was revised up.

The rate for the April-June period was revised to 3.1 percent, from 3 percent, according to the Commerce Department.

It marked the highest quarterly growth rate since the first quarter of 2015 when the economy expanded by 3.2 percent.

The three major indexes on Wall Street ended the day with gains following the news.

The Dow added 40 points to finish trading at 22,381, and the S&P rose three points to 2,510.

The Nasdaq increased less than one point to end the day at 6,453.


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