ISM, Construction Spending Mixed

January ISM and December construction spending were just released, and results were mixed.

January ISM came in at 60.8, versus expectations of 58.4. December's report was 58.5. Prices paid came in at 81.5, much higher than expected.

December construction was expected to fall 0.4%, and it fell 2.5%. November construction spending was 0.4%.

Stocks are sharply higher after the results. The Dow is up 71 points, the S&P 500 is up 12 points and the NASDAQ is up 26 points.