January 28, 2013 at 10:05 AM EST
Stocks rise following report on manufacturing
Stocks are rising with investors getting a peek into the health of the U.S. manufacturing sector. The Dow Jones industrial average rose 70 points to 13,895 and the Nasdaq added 1 point to 3,152. The Standard & Poor's 500 shed less than a point to 1,502 after closing at a five-year record on Friday. U.S. companies placed more orders for long-lasting manufactured goods in December, a good sign for the economy heading into 2013. Orders for durable goods increased 4.6%, the Commerce Department said Monday, driven by a 10% gain in aircraft orders. Also on Monday, Caterpillar beat Wall Street expectations when a new purchase in China is discounted. Shares of the manufacturer rose 3% in morning trading.
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