US Stocks posted their fourth positive day in a row yesterday trading at a record high as investors assessed a new batch of corporate earnings and solid economic data.

According to the Labor Department the US economy added 49,000 jobs in January and the unemployment rate dropped to 6.3%.  Job gains were concentrated in professional services and local government education.  The job gains were in line with economists expectations.

New orders for U.S.-made goods rose more than expected in December and business spending on equipment was solid, pointing to continued strength in the manufacturing industry in the near term.  The Commerce Department said that factory orders increased 1.1% after surging 1.3% in November.

Shares of Ford are higher after the company reported better than expected 4th quarter earnings.   During their conference call they announced they are significantly cutting production of their highly profitable F-150 pickup trucks due to an ongoing semiconductor chip shortage plaguing the global automotive industry.