Dow Hits Five-Year High on Bernanke Comments, Data
The benchmark 10-year Treasury was shedding 5/32, diluting the yield to 1.901%. The dollar was falling 0.37%, according to the U.S. dollar index.
The Census Bureau reported that durable goods orders fell 5.2% in January after rising 3.7% in December. Excluding transportation, orders rose 1.9% after a 1% increase the prior month. Economists were expecting durable goods orders to fall 3.5% in January and the number to rise 0.2% excluding the transportation component.
The National Association of Realtors said its pending home sales index rose 4.5% in January after falling 1.9% the previous month. Economists were forecasting a rise of 1%.
"Between this report and the upside surprises in the housing market data released yesterday (prices for December and new home sales for January), housing market activity appears to have ended 2012 on a positive note and is off to a strong start in 2013," said Cooper Howes, U.S, economist for Barclays.
In corporate news, Groupon(GRPN) , reported after the closing bell a fourth-quarter loss of 12 cents a share on revenue of $638.3 million. Analysts forecast the daily deals site to report a profit of 3 cents a share on sales of $638.4 million after the markets close. Shares rose 7.8% during the regular session, but were plummeting more than 23.5% in after hours trades.
Priceline.com(PCLN) , the travel Web site operator, said Tuesday that fourth-quarter net income rose 28%, as bookings on its Web sites jumped 33% to about $6.6 billion in the quarter. Shares popped 2.8%.
Coach(COH) shares added 2.8% amid rumors that the luxury goods company is thinking about selling itself, and following its announcement of new appointments to its creative team, including Zach Augustine. Augustine joins Coach from Nike, where he held the role of global creative director.
First Solar(FSLR) , the solar panel manufacturer, swung to a profit in the fourth quarter but issued first-quarter net income and sales guidance below analysts' forecasts. Shares plunged 13.8%.