Expansion of the nation's economy in the second quarter was revised upward to lift the markets to a higher close with the Dow rising 27 points to 21,892. Nasdaq leaped 66 points to 6,368.

On the upside

Carvana (NYSE: CVNA) introduced its five-story tall car vending machine in Raleigh, North Carolina.

AeroVironment (Nasdaq: AVAV) narrowed first quarter losses more than expected.

Mazor Robotics (Nasdaq: MZOR) entered the next phase of its strategic partnership with Medtronic triggering a $40 million third tranche investment in Mazor from Medtronic.

On the downside

Barnes & Noble Education (NYSE: BNED) widened losses for the first quarter.

Frontline (NYSE: FRO) disappointed with a greater than expected loss for the second quarter.

Otonomy's (Nasdaq: OTIC) Meniere's disease treatment Otividex failed a Phase 3.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 11 points to 2,457. Bitcoin tumbled $60 to $4,555.