AllMarket Update
logoArgusNovember 23, 2022

Market Update: ADSK, DTE, ECL, HPQ

Utilities, Basic Materials, Technology

Stocks rose on Wednesday morning as investors weighed new employment and manufacturing data, and awaited the release of the Fed's latest meeting minutes this afternoon. The Labor Department said that first-time claims for state unemployment benefits rose by 17,000 to 240,000 for the week ended November 19, above the Reuters consensus forecast of 225,000. Capital goods orders were stronger than expected. The Commerce Department said that orders for core capital goods excluding aircraft rose 0.7% in October after a 0.8% decline in September. The consensus forecast had called for flat orders last month. The Dow rose 0.1%, the S&P 0.3%, and the Nasdaq 0.7%. Crude oil fell sharply to $78 per barrel, while gold traded near $1744 per ounce.

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