Dow rises a fifth day | Apple, Amazon earnings are here | The best opportunity to buy corporate bonds

The Dow Jones Industrial Average rose on Thursday, marking a fifth positive session.

VIEW IN BROWSER | SUBSCRIBE THU, OCT 27, 2022 EVENING BRIEF AS OF THU, OCT 27, 2022 • 04:59 ET DJIA 32033.28 +0.61% +194.17 S&P 500 3807.30 -0.61% -23.30 NASDAQ 10792.68 -1.63% -178.32 Most Active DOW NAME LAST CHG %CHG AAPL 144.80 -4.55 -3.05% INTC 26.27 -0.94 -3.45% MSFT 226.75 -4.57 -1.98% S&P 500 NAME LAST CHG %CHG META 97.94 -31.88 -24.56% TWTR 53.70 +0.35 +0.66% AMZN 110.96 -4.70 -4.06% NASDAQ NAME LAST CHG %CHG META 97.94 -31.88 -24.56% AMZN 110.96 -4.70 -4.06% AAPL 144.80 -4.55 -3.05% EDITOR'S NOTE The Dow Jones Industrial Average continued its ascent for a fifth day Thursday. The S&P 500 and Nasdaq Composite fell as technology companies flounder after earnings.   The 30-stock index was boosted by strong post-earnings performance from stocks such as McDonald's, Caterpillar and Honeywell. Investors were also encouraged by new data that showed U.S. gross domestic product grew faster than expected and hinted that inflation could be cooling.   The U.S. economy grew at a 2.6% annualized pace for the period, the Bureau of Economic Analysis report showed, beating the Dow Jones estimate of 2.3%. The chain-weighted price index, a cost-of-living measure adjusted for consumer behavior changes, rose 4.1% compared to a 5.3% estimate. A gauge used by the Federal Reserve found headline inflation came to 4.2%, a drop from 7.3%.   Market observers varied on how to interpret the data's impact on investor sentiment and trading. "Overall, this was exactly the type of report the Federal Reserve is looking for," said Curt Long, chief economist at the National Association of Federally-Insured Credit Unions.   Long said the data supported arguments that the Fed could employ rate hikes of 50 basis points rather than 75 starting with the December meeting. Though he found the data encouraging for those looking for signs of cooling inflation, he said it was likely too early for the Fed to change course from the trend of 75 basis point hikes at the meeting next week.   Cliff Hodge, chief investment officer at Cornerstone Wealth, agreed, calling the data a "goldilocks number for risk assets."   However, some weren't so sure about the GDP report's impact on the markets. Liz Young, head of investment strategy at SoFi, said it was likely not a major driver of intraday trading. She also said the data showed there was not a current recession, but warned against taking it to mean that there is no likelihood of one going forward.   "I don't think that that was a data point that was big on the market trading docket today," she said.   Alex Harring | CNBC Markets Reporter @alex_harring Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow closes nearly 200 points higher on better-than-expected GDP report, Nasdaq tumbles as Meta shares plummet U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive Apple beats but comes up light on iPhone sales and services Meta shares plunge 24% to the lowest price since 2016 Twitter 'cannot become a free-for-all hellscape,' Musk tells advertisers 5 cheap industrial stocks with upside as investors look outside tech for the next leaders Amazon stock sinks on weak fourth-quarter guidance Josh Brown buys Meta shares, betting Zuckerberg 'doesn't want to burn his own house down' Amazon quietly gave $400,000 to conservative nonprofit that opposed new antitrust legislation New missile strikes hit Kyiv and Zaporizhzhia; Russia warns U.S. commercial satellites could become targets if involved in war TOP VIDEO Beyond the near-term we do think the bear market will keep hold, says Fairlead's Stockton CNBC PRO Why this could be the best opportunity in years to buy investment grade corporate bonds SPECIAL REPORTS Open enrollment for the health insurance marketplace starts Nov. 1. Here's what you need to know about 2023 coverage Tomorrow is your last chance to earn a 'nearly risk-free' 9.6% return on your money Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS