(As of 7:10 am PST)
US stocks opened little changed this morning as investors
waded through several economic reports prior to the extended holiday weekend.
Data has been mixed so far this morning. A report on durable goods orders came
in better than expected for October while a report on personal spending and
income was slightly below expectations. Jobless claims jumped unexpectedly last
week to the highest level seen in 11 weeks. Manufacturing activity, as measured
by the Chicago PMI, slowed in November while a report on housing showed new
home sales ticking up 0.7% in October, slightly below expectations. Lastly, the
final reading of the University of Michigan/Thomson Reuters consumer sentiment
showed sentiment slipping slightly in November. Expect volume to be light today
especially as the day wears on as traders shut down for the holiday weekend.
The US stock market will be closed for Thanksgiving tomorrow and will re-open
for trading on Friday. Have a happy and safe Thanksgiving weekend!
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