Fed Keeps Rally Alive

Earlier, the Commerce Department said durable goods orders for October fell 0.4%, more than economists had expected. Excluding transportation, orders fell 0.7%, compared to forecasts of a 0.3% rise.

Commodity prices retreated. Crude tumbled $3.80 to close at $90.62 a barrel. Gold futures dropped $13.70 to $800.30 an ounce, and silver was off 15 cents at $14.33 an ounce.

Prices for oil pulled back following the Energy Department's weekly inventory report that showed a less-than-expected draw in crude inventories last week.

U.S. Treasury securities were falling, pushing yields higher. The 10-year note was down 21/32 in price, yielding 4.02%. The 30-year bond was off 24/32, yielding 4.40%.

Overseas markets were mostly to the upside. In Asia, Hong Kong's Hang Seng added 0.6%. Japan's Nikkei 225, however, was off 0.5%. Among European bourses, London's FTSE 100 rose 2.7%, and Germany's Xetra Dax was up 2.6%.