First the scoreboard:
Dow: 14,574, +48.6 pts, +0.3 percent
S&P 500: 1,568, +6.0 pts, +0.3 percent
NASDAQ: 3,267, +11.0 pts, +0.3 percent
And now the top stories:
- Today's stock market rally came in the face of four pieces of disappointing economic data.
- The final reading of Q4 GDP growth came in at +0.4 percent, which was below expectations for +0.5 percent.
- Initial jobless claims jumped to 357k, which was higher than the 340k economists were expecting.
- The Chicago PMI fell to 52.4 from 56.8 a month ago. Economists were looking for a reading of 56.5.
- Rounding out the economic reports was the Kansas City Fed Manufacturing index, which improved to just -5 from last month's reading of -10. Economists were looking for -3.
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