With major indices near all-time highs and economic data on tap,
stocks were flat this morning ahead of tomorrow's holiday.
Trading is expected to be light today as the markets close for
Thanksgiving and open for a half day on Friday. Before the opening
(INDEXDJX:.DJI) futures were up 0.1% at 16,078.00. The Dow ended
Tuesday flat as traders closed their positions late in the day.
Futures on the
(INDEXSP:.INX) rose 0.08% to 1,803.50.
(INDEXNASDAQ:.IXIC) futures were up 0.12% to 3,451.50.
Initial jobless claims unexpectedly fell by 10,000 last week to
316,000. Economists had expected claims to rise by 4,000 to
330,000. Durable-goods orders in October fell 2%. The drop in
orders was influenced by a decline in transportation. Excluding
transport, orders were down just 0.1%.
Also, the Reuter's/University of Michigan consumer sentiment index
for this month will be released. The final reading for November is
expected to rise to 73.3 from the initial reading of 72. Chicago
PMI for November is also due for release. Economists say that the
index will likely fall 5.4 points to 60.5.
European stocks rallied today after German Chancellor Angela
Merkel's center-right party succeeded in forming a grand coalition
with the Social Democrats. The news removed significant political
uncertainty, and lifted both stocks and the euro. The single
currency rose to $1.3595 in dollar terms.
NYSE:HPQ) delivered better-than-expected results. The tech giant's
earnings came in at $1.01 per share, though revenue was down 3% at
$29.1 billion. Revenue from the PC business fell 10%. Shares of HP
were up 6.1% in the pre-market.
Analog Devices, Inc.
) shares fell 2.34% today after the company forecasted
first-quarter earnings that trailed Wall Street's expectations.
The Securities and Exchanges Commission has reportedly requested
) overseas hiring. The regulator is investigating possible bribery.
) is being investigated for hiring the offspring of influential
Chinese officials to win business in the country. Scrutiny over
foreign hiring practices is one of several civil and criminal
inquiries into JPMorgan at this time.