US stocks hold steady ahead of FOMC minutes
| • Disappointing US durable goods orders failed to inspire bulls.
• FOMC meeting minutes to provide some impetus.
• Thin trading conditions to prevail ahead of Thanksgiving Day.
Major US equity indices witnessed a steady opening on Wednesday as investors digest the latest round of mixed US economic releases.
Data released on Wednesday showed durable goods orders unexpectedly contracted in October, with order excluding transportations items recording the biggest drop in 13-months. Separately, weekly jobless claims bettered expectations and fell by 13K to 239K during the week ended Nov. 19.
During the early hour of trading, all the three major indices - the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite, were treading water as investors now seemed to wait for the release of minutes of the Federal Reserve's November meeting, due later during the NY trading session
Moreover, traders also refrained from placing aggressive bets amid thin trading conditions ahead of Thanksgiving Day holiday on Thursday. Meanwhile, the broader market was being weighed down by a sharp drop in shares of Hewlett Packard led CEO Meg Whitman's decision to step down.
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