SEARCH
« 18-to-25-Year-Olds Prefer Shopping in Stores Rather than Online | Main | Wikipedia, Other Sites Shut Down to Protest 'Censorship' Legislation »
Wednesday
Jan182012

Industrial and Housing Reports Push Stocks Higher

iStockphoto/Thinkstock(NEW YORK) -- Two very encouraging reports, including some much-needed good news about the housing market, helped the financial markets move higher Wednesday.

The Dow closed up 97 points, and the Nasdaq and S&P added 42 points and 14 points, respectively.

U.S. factory production is roaring back from the depths of the recession. The Federal Reserve says manufacturing increased nine-tenths of a percent in December, the biggest gain in a year.  Industrial output is now less than 5 percent below its pre-recession peak, reached in September of 2007.

Homebuilders are feeling a bit more optimistic, too. The National Association of Home Builders/Wells Fargo builder sentiment index has hit its highest level since June 2007, even though it's still in negative territory.

Copyright 2012 ABC News Radio 

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>






ABC News Radio