New orders for manufactured durable goods in February increased $7.4 billion or 3.1% to $247.7 billion, the U.S. Census Bureau announced. This increase, up three of the last four months, followed a 3.5% January decrease. Excluding transportation, new orders increased 1.2%. Excluding defense, new orders increased 2.5%. Transportation equipment, also up three of the last four months, led the increase, $5.5 billion or 7.1% to $83.5 billion.

Wednesday, the Dow was up 230.94 points (0.96%) at 24,264.30, the NASDAQ climbed 100.83 points (1.45%) to 7,042.11, and the S&P 500 closed 30.24 points (1.16%) higher at 2,644.69. The Russell 2000 gained 19.51 points (1.29%) to finish at 1,531.66, and the Wilshire 5000 increased 303.65 points (1.12%) to 27,420.69.

The price of the 10-year Treasury note was down 6/32, increasing its yield to 2.801%. The price of the 30-year Treasury bond decreased 16/32, bringing its yield up to 3.040%.

ON THIS DATE: In 1792, President George Washington cast the first presidential veto. The measure was for apportioning representatives among the states. In 1933, the first operation to remove a lung was performed at Barnes Hospital in St. Louis, Missouri. In 1951, Americans Julius and Ethel Rosenberg were sentenced to death for committing espionage for the Soviet Union. In 1984, Kareem Abdul-Jabbar (Los Angeles Lakers) became the all-time NBA regular season scoring leader when he broke Wilt Chamberlain’s record of 31,419 career points.