<p>U.S. Stocks hit a five-year high today after better-than-expected results from eBay and data that showed unemployment benefits dropped to a five-year low.</p><br /><p>Other positive data showed that housing starts climb to its highest rate since June 2008, but factory activity in the mid-Atlantic region unexpectedly contracted in January.</p><br /><p>Michael Guli from Knight Capital will weigh in on the recent positive housing news and what the slowdown in factory activity will mean for the economy.</p><br /><p>The Labor Department said on Thursday that initial claims for state unemployment benefits fell 37,000 to a seasonally adjusted 335,000, the lowest level since January 2008.</p><br /><p>But the Philadelphia Federal Reserve Bank said its business activity index fell well below economists' expectations. </p><br /><p>Earlier in the week, the New York Fed's "Empire State" general business conditions index also fell, surprising economists. </p><br /><p>Groundbreaking on new homes rose in December to its fastest pace in over four years, hitting its fastest pace since June 2008.</p><br /><p>The Commerce Department said on Thursday that starts at building sites for homes surged (just over) 12.1 percent last month to a 954,000-unit annual rate.</p><br /><p>Building permits also edged up to a 903,000-unit rate, the fastest pace since July 2008.</p>
