The major indexes finished higher today, despite a slew of disappointing economic data. The Dow and S&P 500 pulled back slightly from intraday highs, while the Nasdaq ended the day firmly in the black. The U.S. gross domestic product (GDP) rose 6.5% year-over-year in the second quarter, which is much lower than the Dow Jones estimate of 8.4%. Plus, initial jobless claims for last week came in at 400,000 -- higher than the anticipated 385,000. However, consumer spending did jump 11.8% in the second quarter.

The Dow Jones Average (DJI - 35,084.53) added 153.6 points or 0.4%. Of the 30 Dow components, Travelers (TRV) was at the top of the list today, adding 1.4%, while Merck & Co (MRK) landed at the bottom of the list with a 1.8% drop. 

Meanwhile, the S&P 500 Index (SPX - 4,419.15) rose 18.5 points or 0.4%, and the Nasdaq Composite (IXIC - 14,778.26) gained 15.7 points, or 0.7%.

Lastly, the Cboe Volatility Index (VIX - 17.70) lost 0.6 points or 3.3%.

OIL, GOLD JUMP HIGHER

Oil prices rose for the second straight day. September-dated crude rose $1.23, or 1.7%, to settle at $73.62 a barrel, extending its two-week highs. 

Gold futures surged today, amid the slew of dismal economic data. August-dated gold climbed 1.8% to settle at $1,831.20 per ounce.