Closing Update: Stocks Finish Shortened Session With Small Gains;


Wall Street enjoyed a small "Santa Claus" rally Tuesday, closing an abbreviated pre-holiday session with moderate gains supported by better-than-expected economic data for new-home sales and orders for items intended to last more than three years. Volume was extremely light.

A lot of focus is on retailers which are mixed as surveys show holiday sales have declined three weeks in a row since a strong post-Thanksgiving weekend.

On the economic news front, durable goods orders rose 3.5% in November, the Commerce Department reported today. This was more than double the expected rise. Excluding transportation, orders for items intended to last more than three years were up a very healthy 1.2%.

Also, new home sales fell a less than expected 2.1% during November. The Commerce Department also said sales eased to a 464,000 annualized pace, exceeding the market consensus for annualized sales. The agency also revised its October data for new home sales to a 474,000 annual pace, up 30,000 from its original report.

Commodities are mostly higher, with February crude oil rising 27 cents to $99.18 per barrel. January natural gas was down 4 cents to $4.43 per 1 million BTU. February gold is up $6.10 to $1,203.20 per ounce, while March silver added 8 cents to $19.49 per ounce. Copper was up $0.02 to $3.33 per pound.

Here's where the markets stand at end-of-day:

Dow Jones Industrial Average up 62.94 (+0.39%) to 16357.55

S&P 500 up 5.33 (+0.29%) to 1833.32

Nasdaq Composite Index up 6.51 (+0.16%) to 4155.42


Hang Seng Index up 1.13%

Shanghai China Composite Index up 0.15%

FTSE 100 Index up 0.23%


(+11.2%, hit 52 week highs) WLB, Agrees to buy the Prairie and Mountain coal-mining operations of Sherritt International Corp. (S.TO) for $435 million.

(+11.1%) ATOS, Filed a premarket 510(k) notification with the U.S. Food and Drug Administration seeking clearance for the ForeCYTE Breast Aspirator.

(+13%, hit 52 week highs) SUPN, Regulators approved Orenitram extended-release tablets for the treatment of pulmonary arterial hypertension in patients seeking to improve their ability to exercise.


(-3.7%) GLUU, Downgrade to Neutral from Buy at B. Riley.

(-7%) CAMP, First Analysis cuts its rating for the mobile communications equipment maker to Equalweight from Overweight after the company forecasts Q4 EPS, revenue trailing Wall Street estimates.

(-1.45% after hitting 52 week highs) UTHR, Jefferies Group boosts its price target for the drug-maker by $15 to $91 a share, trailing the stock's new 52-week high of $116.65 set earlier today by a considerable margin.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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