Stocks Climb at Open on Durables Data

U.S. stocks rose at the open on Wednesday, helped by a better-than-expected reading on U.S. durable-goods orders. The Dow Jones Industrial Average lately gained 46.40 points, or 0.28%, to 16,414.28. The S&P 500 was up 6.10 points, or 0.33%, to 1,871.72. The Nasdaq Composite rose 16.83 points, or 0.40%, to 4,251.10.

Orders for long-lasting U.S. manufactured goods rebounded in February and shipments snapped two straight months of declines. The Commerce Department said on Wednesday durable goods orders rose 2.2 percent as demand increased almost across the board, ending two consecutive months of declines.

The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday,
offering a bullish view on the country’s economy after central bank comments sent shock waves through financial markets last week.

Facebook Chief Executive Officer Mark Zuckerberg is following Google in seeking growth beyond smartphones and tablets. While Apple Inc.’s iPhone and Google’s Android mobile devices dominate today, developers are looking for new gadgets to showcase wares and are focusing on the more lifelike experiences that Oculus provides, Zuckerberg said in a blog.