US stocks up on glimpse of manufacturing

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Associated Press

Posted on January 28, 2013 at 9:01 AM

Updated Monday, Jan 28 at 10:02 AM

NEW YORK (AP) — 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 percent, the Commerce Department said Monday, driven by a 10 percent 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 percent in morning trading.

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