CLOSING BELL

Dow 10392.90  +83.66, Nasdaq 2241.71  +15.42, S&P 1106.75  +7.24 

Traders broad-based buying helped both the Dow and the Nasdaq close above their 50-day moving averages for the first time in almost one month, yet the S&P 500 was met with resistance as it tried to pass technical 50-day moving average, which stands at 1108.

Although the markets posted gains today there was little conviction as only 1 billion shares traded hands on the NYSE. It was the most thinly traded session in one month.

Materials stocks +1.2% were the best performers of the day as gold stocks +2.5% bounced on better-than-expected earnings from Barrick Gold (ABX) 39.23 +1.37, +3.62% and Kinross Gold (KGC) 18.86 +0.36, +1.95%.

Hewlett-Packard (HPQ ) 50.81 +0.69, +1.38% helped the tech sector make its way to a +0.8% gain, thanks to better-than-expected earnings and upside guidance..

Wal-Mart (WMT) 53.47 -0.59, -1.09%  The retail giant posted better-than-expected earnings for the latest quarter and issued in-line guidance, but its fourth quarter U.S. comparable store sales fell more than expected.

Today we had a flurry of disappointing economic data.

Weekly jobless claims for the week ended Feb. 13 totaled 473,000. That was up 31,000 from the previous week and worse than the 438,000 claims that economist had forecast.

The PPI jumped unexpectedly +1.4% in January after increasing a more moderate +0.4% in December.  Economist had estimated a +0.9% rise in producer prices.  Excluding food and energy, the core PPI increased +0.3%. The consensus expected core prices to rise only +0.1%. This led to worries about inflation occurring in a weak economy.

Commodities had a good day as the CRB Commodity Index advanced +0.8% to a fresh three-week high. It closed at its 50-day moving average.  Crude oil was a primary source of support.  Prices settled pit trade +2.2% higher at $79.06 per barrel,