On the economic front, weekly jobless claims declined 6,000 to a seasonally adjusted 331,000, according to the Labor Department. Economists polled by Reuters had expected first-time applications to fall to 332,000 last week.
And the U.S. economy accelerated more quickly than expected in the second quarter to a 2.5 percent annual rate, according o the Commerce Department, giving further support for the Federal Reserve to wind down its asset-purchase program. The government had initially estimated that GDP expanded at a 1.7 percent rate in the second quarter.
"The GDP print should be considered 'less-bad' rather than positive, especially when considering the headwinds facing American consumers in the second half of the year: evaporation of personal savings and a deceleration of wages," said Todd Schoenberger, managing partner of LandColt Capital. "The headline number may provide a short-term boost in the markets, but investors should consider the fragile future for growth in the U.S."