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Stocks Hold Near Five-Year Highs on Mixed Economic Reports

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  • Description

    FBN's Adam Shapiro breaks down mid-afternoon business news.

  • Duration 0:58
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I'm Adam Shapiro of Fox Business -- stocks are holding near five year highs after a report showing the economy contracted in the final quarter of last year.

And better than expected news on private sector hiring in January taking the Dow Industrials right now we are down just one point.

Shares of Amazon -- higher after the company's fourth quarter gross profit margin surprised Wall Street they came in just over 24%.

-- -- expectations of about 22%.

After the bell.

The online retailer reported a profit of 21 cents a share seven cents shy of expectations now while revenue was up 22%.

Over a year ago -- -- -- -- point 47 billion dollars it also fell short.

But the estimate of more than 22 night.

Toyota is recalling more than one million cars for faulty airbags and defective windshield wipers.

Most of the recall affects corolla models that's the latest from the Fox Business Network.

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