Wall Street treads water - New York Report

GAINS in healthcare and consu­mer stocks yesterday, after encouraging data showed modest economic growth, failed to move the indices as investors geared down for today’s Thanksgiving break.

The Dow Jones industrial average rose 1.2 points, or 0.01 per cent, to 17,813.39, the S&P 500 lost 0.27 points, or 0.01 per cent, to 2,088.87 and the Nasdaq Composite added 13.34 points, or 0.26 per cent, to 5,116.14.

Data showed claims for jobless benefits fell more than expected to 260,000 last week, while durable goods orders for October, excluding aircraft, increased 1.3 per cent, far more than the 0.4 per cent expected.

HP, the new company that houses the former Hewlett-Packard’s printer and PC businesses, dropped 13.7 per cent after its profit forecast missed estimates.

But Hewlett-Packard Enterprise, HP’s corporate hardware and services businesses, rose three per cent after it maintained its full-year profit forecast.