Stocks open higher on upbeat reports

Orders for durable goods rise way higher than expected NEW YORK - Wall Street climbed higher Friday after the government reported that orders for big-ticket items rose at the fastest pace in four months, sharply higher than analysts expected. The Commerce Department reported that orders for durable goods increased 0.8 percent last month, far better than the 0.4 percent decline that economists had been expecting. It was the best showing since a 1.1 percent rise in February and reflected strength in demand for heavy machinery, primary metals such as steel and even a slight rebound in the beleaguered auto industry. The data could persuade investors to move back into stocks after a big sell-off on Thursday, when investors worried about a steeper-than-expected decline in existing home sales and concerns about financial services... [read full story]