U.S. stocks mixed on better-than-expected economic data

U.S. stocks ended mixed on Friday as investors worried about the latest economic data may make the possible interest cut unlikely.

New orders for manufactured durable goods in December increased 3.1 percent to 221.9 billion U.S. dollars, the strongest gain since September, the Commerce Department reported on Friday.

The Commerce Department also said new home sales rose 4.8 percent in December, well above economist projections and a sign that the slumping housing market might have bottomed out.

Investors had been expected that the Federal Reserve, who is to meet next week, would cut interest rate in the first half this year. However, the latest reports lower the possibility of the cut.

The Dow Jones industrial average fell 15.54, or 0.12 percent, to 12,487.02. The Standard & Poor's 500 index was down 1.72, or 0. 12 percent, at 1,422.18. The Nasdaq composite index rose 1.25, or 0.05 percent, to 2,435.49.

Source: Xinhua