Reply #13: 10:22 numbers and blather [View All]

[ozymandius]

Dow 10,639.55 +59.41 (+0.56%)
Nasdaq 2,042.32 +9.75 (+0.48%)
S&P 500 1,150.78 +5.87 (+0.51%)
10-Yr Bond 4.015% -0.031

U.S. stocks move higher on raft of positive data

NEW YORK (CBS.MW) - U.S. stocks were higher in morning trade as faster-than-expected economic growth in the fourth quarter, improving consumer sentiment, and a solid manufacturing report, reassured investors the economic recovery remained on track.

"Today's data does signify that the economy is doing quite well," said Jonathan Murray, senior vice-president, investments at Legg Mason. "The market here today seems to be building toward the buy side but it will be interesting to see if this strength can be maintained as the day continues and on what kind of volume."

U.S. economic growth slowed to a 4.1 percent rate in the fourth quarter from the frenzied 8.2 percent pace of the third quarter, the Commerce Department estimated, but well ahead of economist estimates of 3.7 percent growth.

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