Stocks recover from early losses, as weak data blamed on bad weather

|By:, SA News Editor

Stocks finished broadly higher despite a round of weak U.S. economic reports, as investors continued to chalk up disappointing data to severe winter weather.

Initial reaction to weak retail sales and jobless claims was replaced with focus on company fundamentals, with upbeat earnings reports and deal news providing support.

Time Warner Cable jumped 7% after agreeing to be acquired by Comcast for ~$45.2B in stock; Goodyear rallied 11.5% after reporting a strong Q4.

The Nasdaq rose for the sixth straight session; techs gained strength from names like Apple, Google and Microsoft, while Cisco fell 3% after issuing disappointing guidance.

The S&P 500 is on pace for Q4 earnings to rise 8.4% Y/Y and revenues are on track to gain 0.8%, which would exceed expectations.

The dollar lost ground against the yen and euro; the benchmark 10-year Treasury yield slipped 6 bps to 2.736%.