Stock Indexes Mixed in Early Trading

Stock indexes were mixed in early trading on Wednesday amid a wave of economic reports. Orders for manufactured goods soared 4.8% in October, well above expectations for a gain of 1.5%. Excluding transportation orders, durable goods orders increased 1.0% beating estimates for a gain of 0.2%.

Jobless claims came in higher than expectations, but only by a small margin. About 251,000 people filed for unemployment in the week that ended on Nov. 19, just above forecasts for 250,000, the Department of Labor said in a report on Wednesday. The total marks the 90th consecutive week claims were below 300,000, the
longest streak since 1970, according to the DOL.

The heavy economic calendar coupled with pre-holiday trading encouraged a lifeless tone early on as traders brace for the November Federal Open Market Committee minutes and the preliminary purchasing managers manufacturing index for November.

The Dow Jones Industrial Average fell 0.1%, the Standard & Poor’s 500 gained 0.2% and the Nasdaq Compostie declined 0.5%. Globally, the FTSE gained 0.2%, the Nikkei lost 0.1% and the Shanghai Composite declined 0.2%.

Leave a Comment