Upbeat Economic Data Lifts Markets To Higher Close

Consumer spending and incomes rose to lift the markets to a higher close with the Dow gaining 58 points to 16,323. Nasdaq added 4 points to 4155.

On the upside

Sterne Agee said that GameStop's (NYSE: GME) outlook was positive.

Shares of Genco Shipping & Trading (NYSE: GNK) climbed on no news.

2U (Nasdaq: TWOU) stock climbed on its first trading day.

On the downside

LipoScience (Nasdaq: LPDX) lowered its first quarter revenue guidance after Health Diagnostics Laboratory cancelled its contract with LipoScience.

Fourth quarter earnings plunged for Conatus Pharmaceuticals (Nasdaq: CNAT) to fall short of analyst expectations.

Shares of Spherix (Nasdaq: SPEX) continued falling.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 climbed 8 points to 1857. Bitcoin lost $12.18 or 2.41% to $493.70.

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