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Stock Market Lifted By Positive Economic Data

Jeremy Lutz - MarketClub

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Hello traders everywhere. The S&P 500 and NASDAQ are on the rise for a third straight day, wiping out last weeks losses. The S&P 500 reached a five-month high as it held above the key 2,800 level that it has struggled to breach in recent weeks. Crude oil rose toward $58 a barrel in New York. 

The Commerce Department announced today that the nondefense durable goods orders posted their largest increase in six months in January, rising 0.8%. Overall durable goods orders also rose 0.4% while economists polled by Refinitiv expected a decline of 0.5%. The data overshadowed a weaker-than-expected print on the producer price index.

Key Levels To Watch This Week:
S&P 500 (CME:SP500): 2,722.27
Dow (INDEX:DJI): 26,241.42
NASDAQ (NASDAQ:COMP): 7,332.92
U.S. Dollar (ICE:DX): 96.03
Gold (NYMEX_GC.J19): 1,292.00
Crude Oil (NYMEX:CL.J19): 56.74
Bitcoin (BITCOIN:BITSTAMPUSD): 3,553.98

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