Investing.com – U.S. stocks opened the final trading session of the holiday week Friday, higher on positive durable goods orders.
At the open, the Dow Jones Industrial Average advanced 0.26%, the S&P 500 gained 0.83% and the Nasdaq Composite index added 0.21%.
Stocks shrugged off consumer spending missing estimates by 0.2% and focused on the bullish data of durable goods climbing 3.8%, the most in four months.
Yesterday's decade low unemployment figures added to the economic optimism.
Eric Teal, CIO of First Citizens Bancshares, advised Bloomberg, "As long as the economic news shows that the economy is hanging in there and exhibiting signs of sustainability, then I believe the market can move modestly upward."
Solar power company, First Solar led the market higher advancing 3.6% in early trade.
Rambus climbed 13% after agreeing with Broadcom to end all patent litigation with a five year license.
Meanwhile, sales of new homes in the U.S. climbed 1.6% hitting seven month highs adding to the bullish fervor.
Across the Atlantic, European stock markets were moving higher in late trade. The EURO STOXX 50 advanced 0.66%, France's CAC 40 moved higher by 0.78%, Germany's DAX gained 0.24%, while Britain's FTSE 100 added 1.02%.
Trade is light on the final trading day before the Christmas holiday.