Closing Bell

Major stock indexes edged up to two-year highs on Wednesday after a report showed that the U.S. economy grew faster than previously thought over the summer. The Commerce Department said the country's gross domestic product rose at an annual rate of 2.6 percent between July and September, a small increase from its earlier estimate of 2.5 percent. The Dow Jones industrial average rose 26 points to close at 11,559. The S&P 500 index rose 4 to 1,258. Both indexes closed at their highest levels since July 2008. The Nasdaq composite index gained 3 to 2,671. It was the highest close for the Nasdaq since Dec. 28, 2007. Trading was light ahead of the Christmas holiday on Friday. Rising stocks outnumbered falling ones by three to two on the New York Stock Exchange. Consolidated volume was 3.6 billion shares. December is shaping up to be a good month for stocks. The S&P 500 has risen 6.6 percent this month and the Dow has gained 5 percent. On Tuesday, the S&P 500 closed above the level it reached on Sept. 12, 2008, the last trading day before the collapse of Lehman Brothers at the height of the financial crisis. Bond prices fell slightly. The yield on the 10-year Treasury note rose to 3.35 from 3.30 late Tuesday.