Stocks End Higher on Economic News

Stronger-than-expected durable goods orders and new home sales helped attract some buyers, while oil prices fell Major U.S. stock indexes finished higher on Friday, getting an injection of investor optimism about the economy on better-than-expected durable goods orders and new home sales figures, with added support from another drop in oil prices. On Friday, the Dow Jones industrial average closed 21.41 points, or 0.19%, higher at 11,370.69. The broader S&P 500 gained 5.22 points, or 0.42%, to finish at 1,257.76. The tech-heavy Nasdaq composite index was up 30.42 points, or 1.33%, at 2,310.53. Helping to fuel gains was Thursday's selloff, which provided investors with an opportunity to buy stocks at sharply reduced prices. But weakness in Fannie Mae and some other names held the market in check, S&P MarketScope said. On the... [read full story]