Stocks Open Slightly Higher after Durable Goods Data

U.S. stocks opened slightly higher on Tuesday after the report that durable goods orders jumped 3.5% in November. The
Dow Jones Industrial Average lately gained 33.65 points, or 0.21%, to 16,328.26. The S&P 500 rose 1.21 points, or 0.07%,
to 1,829.20. The Nasdaq Composite was off 0.88 point, or 0.02%, to 4,148.03.

Orders for long-lasting U.S. manufactured goods surged in November and a gauge of planned business spending on capital
goods recorded its largest increase in nearly a year, pointing to sustained strength in the economy. The Commerce
Department said on Tuesday durable goods orders jumped 3.5 percent.

Fewer Americans hit the malls the last week before Christmas even as retailers from Macy’s to Michael Kors poured on the
discounts. Store visits plummeted 21% and retail sales dropped 3.1% in the week through Saturday, signaling a lackluster
finish for stores’ most important selling season, Chicago-based researcher ShopperTrak said yesterday.

China’s central bank backed down on Tuesday from its most recent experiment with higher interest rates by providing around $5 billion in new liquidity to money markets that had been seized in recent days by soaring rates.