Market Little Changed Despite Strong Economic Data (OIL+RATE HIKE FEARS)

"We are finally seeing some stabilization in the economic data -- durable goods numbers, retail sales, and this second reading on G.D.P. -- that will hopefully end this debate on whether the U.S. economy is heading toward recession," said Quincy Krosby, a market strategist with Prudential Financial.

But the stronger economic news kicked interest rates up sharply. Douglas Cote and Karyn Cavanaugh, Voya Market Strategists, said in a note to investors that the G.D.P. data could increase the likelihood of an interest rate increase at the Federal Reserve's meeting in March.

That sentiment and the rising rates weighed on relatively safe investments like government bonds and stocks that are attractive for their dividends, like utilities.