(CNBC) U.S. stocks jumped on Thursday, with Visa helping lift the Dow industrials into the green for October, after data showed the U.S. economy grew more than expected last quarter.
The Commerce Department said gross domestic product grew at a 3.5 percent annual rate in the third quarter, bolstered by a smaller trade deficit and a rise in defense spending.
"Investors were looking at the GDP number as favorable and confirmation the economy is doing well, or well enough that the Fed should be stepping back," said Paul Nolte, senior portfolio manager at Kingsview Asset Management.