US stocks up on glimpse of manufacturing
- Associated Press
- January 28, 2013 - 8:54 AM
NEW YORK - Stocks are rising with investors getting a peek into the health of the U.S. manufacturing sector.
The Dow Jones industrial average rose 70 points to 13,895 and the Nasdaq added 1 point to 3,152.
The Standard & Poor's 500 shed less than a point to 1,502 after closing at a five-year record on Friday.
U.S. companies placed more orders for long-lasting manufactured goods in December, a good sign for the economy heading into 2013.
Orders for durable goods increased 4.6 percent, the Commerce Department said Monday, driven by a 10 percent gain in aircraft orders.
Also on Monday, Caterpillar beat Wall Street expectations when a new purchase in China is discounted.
Shares of the manufacturer rose 3 percent in morning trading.
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