The year is starting off strong. Amid a flurry of good news Wednesday, the Dow gained 83 points on the first day of February. That’s after its best January since 1997.
Manufacturing, building
U.S. factories grew in January at the fastest pace in seven months, boosted by a rise in new orders and car sales. Builders ended a poor year for construction by spending more on homes and projects for the fifth straight month. Nationwide, homebuilders seem more confident.
Employment
Employment in the nation’s private sector is improving at a moderate pace, according to a monthly labor-market report by payrolls-processor Automatic Data Processing Inc. What happens Friday, when the Labor Department releases its numbers?
Auto sales
Chrysler, fresh from its first annual profit since 2005, posted its best January in four years with a 44 percent gain last month. Ford sales rose 7 percent, also its best January since 2008. The automotive industry as a whole is expected to rise more than 7 percent for the month.
