Stocks edge higher in abbreviated trading day after a jump in orders for manufactured goods

NEW YORK, N.Y. – An unexpectedly large increase in orders for manufactured goods helped push stock prices higher on Wall Street.

The market was open for just half a day ahead of the Christmas holiday. Trading will remain closed on Wednesday.

The Dow Jones industrial average rose 62 points, or 0.4 per cent, to close at 16,357 Tuesday.

The Standard & Poor’s 500 index rose five points, or 0.3 per cent, to 1,833. The Nasdaq composite was up six points, or 0.2 per cent, at 4,155.

Trading was extremely light ahead of the holiday.

Homebuilder stocks rose after the government revised up new-home sales figures for the previous three months, a sign that housing may be regaining strength. Beazer Homes jumped 3 per cent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.99 per cent.