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US stocks struggle to extend gains amid weak economic data

FXStreet (Mumbai) - US stocks trade directionless after the barrage of data showed rising jobless claims, coupled with a contraction in capital goods orders and falling home sales in the US.

At the time of writing, the DJIA traded 0.04% lower at 17,805, while the S&P 500 traded 0.07% higher at 2068.40. Meanwhile, the NASDAQ posted modest gains of 0.34% to trade at 4302.37. The mid-cap Russell 2000 also trades lackluster.

The government reported a rise in the headline durable goods orders figure in October. However, the orders ex-transportation and Capital goods orders ex-Defense contracted in October. Meanwhile, a separate report showed initial jobless claims for the last week rose by 21K to 313K. The Chicago PMI came-in lower-than-expected, while the National Association of Realtors reported a decline of 1.1% in Pending home sales in October.

Moreover, the trading on Wall Street is likely to be thin as, ahead of the Thanksgiving holiday tomorrow.

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