NEW YORK (25/12) MarketWatch — U.S.
stocks ended higher on Tuesday, with the Dow Jones Industrial Average
and the S&P 500 rising to record closes after an upbeat report on
durable goods orders.
 In a holiday-shortened session, the Dow recorded its 49th record close this year after rising for five consecutive days. The blue-chip average rose 62.94 points, or 0.4%, to 16,357.55. The S&P 500 also reached a record level after three consecutive days of gains. The benchmark index closed 5.33 points higher, or 0.3%, to 1,833.32. The technology-heavy Nasdaq Composite closed up 6.51 points, or 0.2%, at 4,155.42, its highest level since September 2000. The market closed early at 1 p.m. Eastern and will be closed on Wednesday for Christmas. On Monday, both the Dow and the S&P 500 closed at record highs after upbeat consumer-spending data added to the perception that the U.S. economic recovery is poised to accelerate in 2014. Investors welcomed Tuesday’s durable-goods report showing that orders for big-ticket U.S. items, such as aircraft and transportation equipment, rose 3.5% last month. Economists surveyed by MarketWatch had expected durable-goods orders to rise 2%. In a separate report, U.S. home prices rose 8.2% in October from the same month last year , according to the Federal Housing Finance Agency. Prices rose 0.5% from September. Rising mortgage rates did not affect the sales of new single-family homes much, according to U.S. Commerce Department data released on Tuesday. Sales declined 2.1% in November to a seasonally adjusted annual rate of 464,000, down from a rate of 474,000 in October, which was the fastest pace since July 2008. http://www.marketwatch.com/story/us-stocks-edge-higher-on-durable-goods-data-2013-12-24 |
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