Stocks edge higher in abbreviated trading day after a jump in orders for manufactured goods - InfoNews

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Stocks edge higher in abbreviated trading day after a jump in orders for manufactured goods

In this photo provided by the New York Stock Exchange Euronext, Rock and Roll Hall of Fame member Darlene Love rings the closing bell at the New York Stock Exchange, Tuesday, Dec. 24, 2013 in New York. THE CANADIAN PRESS/AP, NYSE Euronext, Ben Hider
December 24, 2013 - 10:17 AM

NEW YORK, N.Y. - An unexpectedly large increase in orders for manufactured goods helped push stock prices higher on Wall Street.

The market was open for just half a day ahead of the Christmas holiday. Trading will remain closed on Wednesday.

The Dow Jones industrial average rose 62 points, or 0.4 per cent, to close at 16,357 Tuesday.

The Standard & Poor's 500 index rose five points, or 0.3 per cent, to 1,833. The Nasdaq composite was up six points, or 0.2 per cent, at 4,155.

Trading was extremely light ahead of the holiday.

Homebuilder stocks rose after the government reported that sales of new homes increased last month at a faster pace than analysts were expecting. Beazer Homes jumped 3 per cent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.99 per cent.

News from © The Associated Press, 2013
The Associated Press

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