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Stocks end higher following economic readings

By Tim Paradis, AP Business Writer NEW YORK — Stocks closed out the week with a moderate gain after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector. The government said sales of new single-family homes fell 0.6% to a seasonally adjusted annual rate of 530,000 units; the market expected sales to total 505,000. A barometer of consumer confidence also came in better than expected. A surge in profits at Juniper Networks gave a boost to technology stocks. Linda Duessel, equity market strategist at Federated Investors, said economic figures such as the durable goods numbers are important because they reveal continued demand from abroad, which could help U.S. companies continue to rake in profits even if the U.S. economy isn't running at full steam.... [read full story]                    

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