NEW YORK – Stocks have ended the day sharply higher after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up.

The Commerce Department says the GDP rose at an annual rate of 3.3 percent in the second quarter. And the Labor Department says the number of newly laid off people seeking jobless benefits fell for the third straight week.

A drop in oil prices also helped lift stocks.

The Dow Jones industrial average is up about 212 points at the 11,715 level.