Lackluster economic data made for a mixed open on Wall Street, as investors considered the latest durable goods orders and housing reports. The markets made some gains later in the day, with the Dow rising above 13,000 briefly and the S&P hitting multi-year highs.
Starting with home prices, the S&P Case Shiller Home Price Index fell 3.8 percent in December, making it the fourth consecutive month of declines.
Meanwhile, the Commerce Department is reporting a 4 percent decline in durable goods orders in January, due to a slowing demand for commercial aircraft and business equipment.
On the bright side, consumer confidence rose to 70.8, according to the Conference Board, which was much better than forecast.
On the earnings front, Priceline.com (NASDAQ:PCLN) posted better than expected earnings and had its price target raised by at least 10 brokerages.
Office Depot (NASDAQ:ODP) also beat earnings expectations due to a successful holiday season.
Tomorrow, we'll get results from rival Staples (NASDAQ:SPLS) and we'll also take a look at the numbers for weekly mortgage applications.
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