Stocks Jump After January Jobs Report; Dow Tops 14,000
The ISM Manufacturing survey showed an increase in January to 53.1 from 50.7 in December. A reading of 50.6 was expected.
The Census Bureau reported that construction spending rose 0.9% in December after ticking up by an upwardly revised 0.1% in November. Forecasts called for a 0.6% rise in December.
Gold for April delivery climbed $8.60 to settle at $1,670.60 an ounce at the Comex division of the New York Mercantile Exchange, while March crude oil futures were up 22 cents at $97.71 a barrel.
The benchmark 10-year Treasury slipped 11/32 to dilute the yield to 2.028%. The dollar was off 0.04%, according to the U.S. dollar index.
In corporate news, Dell(DELL) , the PC maker, is close to an agreement to sell itself to a buyout group led by founder and CEO Michael Dell and private-equity firm Silver Lake Partners, Reuters reported, citing two people familiar with the matter.
A deal could possibly be announced as soon as Monday, Reuters reported.
Shares popped 3%.
Bristol-Myers Squibb (BMY) is seeking a buyer for a collection of brands in Mexico and Brazil that could fetch as much as $750 million, The Wall Street Journal reported, citing people familiar with the matter.
Shares rose 2.1%.
Wynn Resorts (WYNN) shares added 0.92% after the casino operator posted disappointing quarterly earnings Thursday evening amid revenue declines driven by a 9.7% fall in revenues at its Macau operations.
Metlife (MET) shares added 2.3%. The company said it's acquiring BBVA's Chilean pension business for about $2 billion.
Ingersoll-Rand (IR) shares rose 1.9% after the industrial and commercial products company posted better-than-expected fourth-quarter results, though said it was cautious about a slow-growth economy in 2013.
Audience ( ADNC) shares surged 15% after the provider of voice and audio solutions posted a fourth-quarter profit and saw its sales soar amid increased adoption of its technology in mobile devices.