US Stocks gained overnight following a bigger than expected drop in weekly jobless claims and an upbeat new homes sales report.
The Dow Jones Industrial Average rose 31 points to 10,464. The S&P500 Index is 5 points higher at 1,111 and the NASDAQ gained 7 points to 2,176.
In economic news: New claims for unemployment fell to more than a 13 month low last week, falling to 466,000. Economists had expected a drop to 500,000.
New home sales increased to an annual rate of 430,000 in October, up from 405,000 in September. Economists had expected a drop to 404,000.
And according to the Commerce Department personal income rose 0.2% in October with spending up 0.7% for the month.
And another report showed that durable goods orders dropped 0.6% in October after economists had predicted a rise of 0.5%.
In company news: Shares in high-end jewelry retailer Tiffany & Co (NYSE:TIF) added 4.92 per cent to $43.89. The company reported better than expected earnings for the third quarter and upgraded its full year outlook.
Shares in computer software giant Microsoft Corp (NASDAQ:MSFT) lost 0.4 per cent to $29.79. The company says Chief Financial Officer Chris Liddell has decided to resign at the end of the year. Reuters says Mr Liddell is reportedly looking for a bigger role in another company.
Shares in internet-monitoring equipment maker Blue Coat Systems Inc (NASDAQ:BCSI) advanced 6.23 per cent to $27.27. After posting better than expected profit and raising its third quarter outlook, the company has had its price target raised by at least five brokerages.
And shares in specialty retailer Conn’s Inc (NASDAQ:CONN) declined 8.36 per cent to $5.81. The company recorded a wider loss for the quarter, impacted by a spike in bad debt allowances and goodwill charges. However the retailer says it does expect to be profitable in the fourth quarter.
In the NASDAQ Top 100: Joy Global was the best performer, adding 3.78% to $55.44 followed by Wynn Resorts and Urban Outfitters. The worst performer was Express Scripts shares down 1.36% to $86.99, while Check Point Software and IAC Interactive also closed lower.
