U.S. stocks rose on Wednesday, lifted by positive data on the labor market and housing sector, considered two of the biggest headwinds facing the economy.
The number of workers filing claims for jobless benefits fell by a surprisingly large amount in the last week, while new home sales and consumer sentiment ticked higher, according to government data.
But October durable goods orders fell unexpectedly, limiting stock gains.
The jobless number is good news. It's nice to see claims falling, said Subodh Kumar, chief investment strategist at Subodh Kumar & Associates in Toronto. However, we were hoping to see improvement on the industrial side. But that's a question mark after the durable goods data.
The Dow Jones industrial average <.DJI> rose 15.80 points, or 0.15 percent, to 10,448.53. The Standard & Poor's 500 Index <.SPX> added 2.24 points, or 0.22 percent, to 1,107.89. The Nasdaq Composite Index <.IXIC> gained 6.39 points, or 0.29 percent, to 2,175.57.
Tiffany & Co
Deere & Co
(Editing by Jeffrey Benkoe)