After ending the previous session roughly flat, stocks have continued to show a lack of direction throughout the trading day on Wednesday. The choppy trading comes following the release of a slew of U.S. economic data.
Chicago-area business activity grew at a notably slower rate in the month of November, according to a report released by MNI Indicators on Wednesday. MNI Indicators said its Chicago business barometer fell to 60.8 in November from a one-year high of 66.2 in October.
New home sales in the U.S. saw a modest increase in the month of October, according to a report released by the Commerce Department on Wednesday. The report said new home sales rose by 0.7 percent to a seasonally adjusted annual rate of 458,000 in October from the revised September rate of 455,000.
Consumer sentiment in the U.S. improved by less than previously estimated in the month of November, according to a report released by Thomson Reuters and the University of Michigan on Wednesday.
With traders digesting a slew of U.S. economic data, stocks are turning in a lackluster performance in early trading on Wednesday. The major averages are once again showing only modest moves after ending the previous session nearly flat.
Pending home sales in the U.S. unexpectedly decreased in the month of October but remained at a healthy level, the National Association of Realtors said in a report released on Wednesday.
Personal income in the U.S. rose by less than expected in the month of October, according to a report released by the Commerce Department on Wednesday. The increase in personal spending also fell short of economist estimates.
After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Wednesday showing that durable goods orders unexpectedly rebounded in the month of October.
First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 22nd, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims rose to 313,000, an increase of 21,000 from the previous week's revised level of 292,000.
After showing a lack of direction throughout the previous session, stocks may continue to experience choppy trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 6 points.
European Commission President Jean-Claude Juncker has announced the creation of a new EU strategic investment fund designed to mobilize at least EUR315 billion over the next three years to jump-start the EU economy. The Investment Plan to get Europe growing again and get more people back to work was unveiled at the European Parliament's plenary session on Wednesday. The plan is based on three pill
Agricultural machinery maker Deere & Co. on Wednesday reported a 20 percent decline in profit for the fourth quarter from last year, reflecting lower sales of agricultural equipment amid a slowdown in the global farm sector. However, both revenue and earnings per share beat analysts' expectations. Looking ahead, the company forecast lower earnings and equipment sales for fiscal 2015.
The U.K. economy registered robust growth as estimated in the third quarter as strength in consumer spending offset the weakness in exports and business investment. Gross domestic product grew 0.7 percent sequentially in the third quarter, unrevised from the previous estimate published on October 24, second estimates from the Office for National Statistics showed Wednesday.
Rumors are swirling about possible management changes at Samsung following a year that saw the company's profits dip and stock prices fall. Questions have arisen about the future role of both of the company's co-CEOs, J.K Shin and B.K. Yoon.
Early indications suggest that Wall Street stocks may open slightly higher on Wednesday even as the mood remains apprehensive ahead of the release of a slew of market moving economic data. Asian stocks closed mostly higher earlier in the day, while the European markets are gaining ground, adding to the...