26 Nov 2014
US stocks struggle to extend gains amid weak economic data
FXStreet (Mumbai) - US stocks trade directionless after the barrage of data showed rising jobless claims, coupled with a contraction in capital goods orders and falling home sales in the US.
At the time of writing, the DJIA traded 0.04% lower at 17,805, while the S&P 500 traded 0.07% higher at 2068.40. Meanwhile, the NASDAQ posted modest gains of 0.34% to trade at 4302.37. The mid-cap Russell 2000 also trades lackluster.
The government reported a rise in the headline durable goods orders figure in October. However, the orders ex-transportation and Capital goods orders ex-Defense contracted in October. Meanwhile, a separate report showed initial jobless claims for the last week rose by 21K to 313K. The Chicago PMI came-in lower-than-expected, while the National Association of Realtors reported a decline of 1.1% in Pending home sales in October.
Moreover, the trading on Wall Street is likely to be thin as, ahead of the Thanksgiving holiday tomorrow.
At the time of writing, the DJIA traded 0.04% lower at 17,805, while the S&P 500 traded 0.07% higher at 2068.40. Meanwhile, the NASDAQ posted modest gains of 0.34% to trade at 4302.37. The mid-cap Russell 2000 also trades lackluster.
The government reported a rise in the headline durable goods orders figure in October. However, the orders ex-transportation and Capital goods orders ex-Defense contracted in October. Meanwhile, a separate report showed initial jobless claims for the last week rose by 21K to 313K. The Chicago PMI came-in lower-than-expected, while the National Association of Realtors reported a decline of 1.1% in Pending home sales in October.
Moreover, the trading on Wall Street is likely to be thin as, ahead of the Thanksgiving holiday tomorrow.