Durable good orders fell 0.8% m/m in March, versus the expected drop of 1.5% but February's gain was revised lower to 2.1% from the originally reported 3.5%. Ex-transportation, orders declined 0.6%, versus the forecast of a 1.2% decline, while February was also revised lower.
New home sales for March fell 0.6% month-over-month (m/m) to 356,000 units on an annualized rate, better than the 337,000 units expected, and February was revised up to 358,000 units, up 8.2% m/m. Year-over-year, new home sales fell 30.6%. More from Bloomberg...
The Dow Jones Industrial Average rose 119 points (1.5%) to close at 8,076, the S&P 500 Index gained 14 points (1.7%) to 866, and the Nasdaq Composite advanced 42 points (2.5%) to 1,694. Crude oil gained $1.93 to $51.55 per barrel, and gold increased $8.15 to $912.45 per ounce. For the week, the DJIA fell 0.7%, the S&P 500 Index lost 0.4%, while the Nasdaq Composite advanced 1.3%.
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