2:20 PM New York – In stock trading, market averages lacked direction ahead of OPEC meeting tomorrow. Dollar fell, stocks generally rose and crude oil futures traded at a four-year low. U.S. jobless claims unexpectedly rose and capital goods orders fell. New home sales rose in October.
Stocks in New York lacked direction as investors digested a flood of economic news and awaited OPEC meeting tomorrow.
Weekly jobless claims at the end of last week increased 21,000 to a seasonally adjusted 313,000, the Labor Department said on Wednesday.
The weekly claims rose above 300,000 for the first time since September and the four-week moving average claims remained below 300,000 mark for the 11th week in a row.
Capital goods orders unexpectedly declined for the second month in a row in October, the Commerce Department said today.
Non-defense orders excluding aircraft, decreased 1.3%, following similar fall in September. Overall orders for durable goods increased 0.4%, after falling two months in a row.
Orders for automobiles increased 0.3% last month, after two months of declines.
Single-family homes sales rose in October by 0.7% to a seasonally adjusted annual rate of 458,000. Sales rose 1.8% from a year ago month.
Median price of new homes increased to a record high of $305,000, an increase after dropping in September.
Tollbooth Index edged up 0.01% or 1.08 to 10,007.72.
S&P 500 index rose 2.27 or 0.1% to 2,069.31 and the Nasdaq Composite Index gained 15.68 or 0.3% to 4,773.97.
Analog Devices, Inc
), the integrated circuit maker said net revenues in the fourth-quarter ending on November 1 climbed 20.1% to $814.2 million from a year ago period.
Net income in the quarter plunged 46.1% to $108.7 million or 34 cents a diluted share compared to $201.6 million or 64 cents from a same quarter last year.
Deere & Company
), the agriculture and turf equipment maker net revenues in the fourth-quarter ending in October dropped 5% to $8.97 billion from a year ago period.
Net income in the quarter tumbled 19.5% to $649.2 million or $1.83 a diluted share compared to $806.8 million or $2.11 from a same quarter last year.
), the hardware and software provider reported net revenue for the fourth-quarter ending in October fell 2% to $28.41 billion from a year ago period.
Net income in the quarter declined 5.7% to $1.33 billion or 70 cents a diluted share compared to $1.41 billion or 73 cents from a same quarter last year.
For the fiscal 2015, the company forecasted earnings between $3.23 and $3.43 per share and adjusted earnings in the range of $3.83 to $4.03 per share.
The Department of National Statistics, UK said second estimated GDP in third quarter rose by 0.7% unchanged from previous estimate.