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Wall Street steady ahead of holiday

Wednesday, November 25, 2015 - 01:12

Stocks were mostly higher in light trading volume ahead of the Thanksgiving holiday, with gains in healthcare and consumer stocks. Bobbi Rebell reports.

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Econorama on Thanksgiving Eve! A deluge of modestly positive data and healthcare stocks helped Wall Street close mostly higher. Orders for durable goods rose last month, and new home sales rebounded strongly. Jobless benefits fell more than expected last week. Consumer spending inched higher in October. But it and consumer sentiment fell shy of forecasts. Peter Cardillo of First Standard Financial: SOUNDBITE: PETER CARDILLO, CHIEF MARKET STRATEGIST, FIRST STANDARD FINANCIAL (ENGLISH) SAYING: "The numbers are pretty good. I mean, they suggest the economy is continuing to grow at a modest pace." Deere one of the day's top performing S&P 500 stocks. The farm equipment maker's quarterly profit plummeted amid the slowdown in the agriculture sector. But its earnings and weak outlook weren't as bad as Wall Street had feared. Tesla shares bounced back into the black this year. Credit Suisse's analyst backed the electric car manufacturer's quarterly volume forecast. Guess shares rose after two brokerages raised their price target on the apparel retailer. Profit rose and topped estimates. HP the S&P's biggest loser on the day. Its profit forecast was weaker than expected amid soft sales of printers and PCs. In Europe, the euro's drop helped power shares higher.

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Wall Street steady ahead of holiday

Wednesday, November 25, 2015 - 01:12