Friday's Bloomberg Market Report

By: Deborah Kostroun Email
By: Deborah Kostroun Email
  • DJ Industrials: Up 35.17 to 14,089.66
  • S&P 500: Up 3.52 to 1,518.20
  • NASDAQ: Up 9.55 to 3,169.74

Here are the headlines from Friday's Bloomberg Market Report.

Construction spending in the U.S. fell unexpectedly in January, following the biggest back-to-back gain in a year. Economists surveyed by Bloomberg expected a gain of about half a percent, instead outlay's dropped more than two percent. The decline reflects a slump in non-residential and government projects.

A separate Consumer Department report out Friday charted a rise in consumer spending, even as incomes sank by the most in 20 years. Household purchases, which account for about 70 percent of the economy, climbed about a quarter of a percent.

Automakers, including General Motors and Ford don't see Friday's automatic government cuts dampening demand for cars and trucks. The auto industry is on track for its best year since 2007, fueled in part by the fact that vehicles on U.S. roads are older and many drivers will be looking to replace them.

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