STOCKS RISE: Here's What You Need To Know
Dow 16,237.10 +38.69 0.24%
NASDAQ 4,312.00 +19.94 0.46%
And now the top stories:
Initial jobless claims unexpectedly climbed. The figure hit 348,000 for the week, up from 336K. Analysts had expected just 335K.
But capital goods orders also unexpectedly jumped. Nondefense capital goods orders excluding aircraft - an important measure of corporate spending - unexpectedly climbed 1.7%. Economists were looking for a 0.2% decline.
JC Penney shares surged 25% on strong earnings. The department store chain delivered its first quarterly net profit since July 2011.
Sears said it lost $358 million during the holiday quarter, but shares spiked. The retailer also said it was cutting costs, and expected stronger sales this month, the AP said. $SHLD climbed 7%.
Shares in Fannie Mae, the government-sponsored mortgage giant, have been ripping higher of late. Investors seem to be banking on a resolution to the firm's mortgage woes that unlocks the underlying value of the assets left on its books.
Economic data keeps sliding in Australia. According to the Australian Bureau of Statistics report, capital expenditures in the country fell 5.2% quarter-over-quarter in Q4. Manufacturing was in the worst shape followed by mining.