Stocks End Up, Dow Posts Triple-digit Gain

U.S. stocks ended higher on Thursday as investors welcomed data showing a robust pace of growth in the economy in the final quarter of last year. The Dow Jones Industrial Average finished the day up 109.82 points, or 0.70%, at 15,848.61. The S&P 500 closed 19.99 points, or 1.13% higher to 1,794.19. The Nasdaq Composite gained 71.69 points, or 1.77%, to 4,123.12.

Google Inc’s consolidated revenue beat Wall Street’s target in the fourth quarter even as pricing for its online ads weakened during the holiday season. Google’s consolidated revenue, which includes the money-losing Motorola smartphone business, rose to $16.86 billion from $14.42 billion in the fourth quartero 4,123.13.

Amazon’s profit and revenue both grew in the latest quarter, but its results are below what Wall Street was expecting. It earned $239 million, or 51 cents per share, in the October-December period. That’s up from $97 million, or 21 cents per share, in the same period a year earlier.

Video game maker Zynga Inc said on Thursday it would slash its workforce by 15 percent and expand a cost reduction plan in a bid to regain its financial footing.

Pending home sales took a huge dip in December, falling 8.7 percent from November and 8.8 percent below the level seen in December 2012.