Longest Win Streak Since July for Nasdaq

U.S. stocks finished mostly higher today, with the Nasdaq Composite rising for an eighth session, as investors considered a large acquisition and partially disregarded downbeat economic reports as impacted by the weather.

A measure of home builder confidence fell dramatically in February as dismal weather hit sales. Shares of PulteGroup and D.R. Horton were among those in decline after the release of the report.

And, the New York Fed’s “Empire State” general business conditions index had factory activity in New York, the upper part of New Jersey and lower portion of Connecticut slowing in February, coming in at 4.48 in February from 12.5 in January. Economists polled by Reuters expected a reading of 9.0.

The Federal Reserve on Wednesday releases minutes from its January meeting, at which the makers of U.S. monetary policy opted to cut another $10 billion from the central bank’s monthly asset purchases. Equities last week notched a second week of gains after Fed Chair Janet Yellen indicated she would continue former Fed Chairman Ben Bernanke’s policies.

European indexes and Asian markets both closed mixed. The Nikkei added 3.1% after Japan’s central bank doubled the size of two programs designed to encourage bank lending.

Wednesday:

830 a.m.: PPI, 8:30 a.m.: Housing starts, 12:15 p.m.: Atlanta Fed President Dennis Lockhart, 1:00 p.m.: St. Louis Fed President James Bullard, 2:00 p.m.: FOMC minutes, 7:00 p.m.: San Francisco Fed President John Williams

News Sources:  CNBC and CNN Money