Wall Street points higher ahead of economic data

Wall Street headed toward a moderately higher open Thursday as investors awaited economic readings on demand for big-ticket manufactured goods and sales of new homes.

Investors are looking for any signs that the economy is slowing its descent. That could signal demand from consumers and businesses is set to rebound. But few economists expect the numbers will soon show a recovery.

Wall Street predicts manufacturers saw demand for goods like cars, airplanes, household appliances and furniture fell in January for the sixth straight month. Government figures are expected to show that orders for durable goods _ manufactured products expected to last at least …