Beating analysts’ expectations of a 2% rise, U.S. Durable Goods orders rose 3% in the month of December fueled by orders for aircraft, automobiles and business equipment. Consumer and business spending rose, and combined with year end replenishment of inventories gave a boost to manufacturing. New Home sales dropped in December by 2.2% to 307,000 annual pace. Even with mortgage rates at record lows, potential buyers are hoping for further drop in prices. Federal Reserve Chairman Ben Bernanke yesterday said the weak housing market was making it difficult for the Fed to rescue the economy. Read more