Fresh Economic Data Ahead of Thanksgiving, Stocks Open Flat

U.S. stocks are pretty much flat at the opening bell on this Wednesday. Investors are chewing on a ton of fresh economic data this morning ahead of the Thanksgiving holiday. The number of people filing for initial unemployment benefits rose above 300,000 for the first time since early September hitting 313,000. Continuing claims fell to a near 14-year low at 2.32 million for the week ended November 15. Durable goods orders unexpectedly rose in October. Orders for items meant to last at least three years increased 0.4% in October. Consumer spending also rebounded last month. Personal spending and income both rose 0.2%. Mortgage activity slowed last week. The Mortgage Bankers Association said total applications dropped 4.3%. Refinancing fell 4% and purchasing loans was down 5% from the previous week.