Stocks Up on Durables Report

By Kevin Spak,  Newser Staff
Posted Mar 25, 2009 8:45 AM CDT
Traders work on the floor at the New York Stock Exchange in New York Monday, March 23, 2009.   (AP Photo/Seth Wenig)
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(Newser) – Stocks switched back into climbing mode this morning, after a better-than-expected durable goods report. The Dow rose 76 points, bolstered by GE's 4% surge, while the Nasdaq and S&P each gained about 1%. Durable goods orders rose 3.4% in February, defying analyst expectations of a 2% decline. But one economist urged caution. “It is much less impressive than it looks at first sight,” he said. “It cannot possibly last.”