Wall Street rose after a report showed the US economy expanded more than expected in the third quarter thanks to consumer spending, and as oil rebounded.
A Commerce Department showed US gross domestic product grew at a revised 2 per cent annualised rate in the third quarter, lower than the previously reported 2.1 per cent pace but exceeding economists' expectations for a final reading of 1.9 per cent.
GDP data "continues to tell us the same thing, that is the consumer is in reasonable shape and exports are continuing to struggle," Michael Arone, the Boston-based chief investment strategist at State Street Global Advisors' US Intermediary Business, told Bloomberg.
US Treasuries moved lower, lifting yields on the benchmark 10-year note two basis points higher to 2.21 per cent. The data underpinned the likelihood of further US Federal Reserve interest rate hikes. Last week policy makers raised their benchmark rate for the first time since 2006.
"This data is a little better for the economy than expected, so that makes it less likely that (the Fed's) tightening program is going to be derailed," David Coard, head of fixed income sales and trading at Williams Capital Group in New York, told Reuters.