Durable goods give stocks a boost

NEW YORK, Dec. 23 (UPI) -- U.S. stock markets finished higher Friday after the Commerce Department said durable goods orders came in above expectations in November.

New orders for goods expected to last more than three years rose by 3.8 percent to $207 billion. Economists had expected a rise of 2.2 percent.

In a separate report, the department said consumer incomes and spending both rose marginally, up 0.1 percent, in November.

The Dow Jones industrial average closed up 124.35 points or 1.02 percent to 12,294.00.

On the New York Stock Exchange, 2,087 stocks advanced and 920 declined on volume of 2.219 billion shares.

The Standard & Poor's 500 index added 11.33 points or 0.9 percent to 1,265.33. The tech-heavy Nasdaq composite index added 19.19 points or 0.74 percent to 2,618.64.

The benchmark 10-year treasury note fell 23/32 to yield 2.031 percent.

The euro was virtually flat, edging up to $1.3051 compared with Thursday's $1.305. Against the yen, the dollar fell to 78.12 yen from Thursday's 78.17 yen.

The stock exchange in Tokyo was closed for a national holiday.

In London, the FTSE 100 index gained 1.02 percent, 55.73, to 5,512.70.