U.S. Stocks Open Higher as Blue Chip Companies Report Mixed Earnings

U.S. stocks opened higher Wednesday as a litany of economic data show the U.S. economy is chugging along. Weekly jobless claims fell 12,000 last week to 260,000 and to the lowest level in a month. Americans made more last month but also saved more. Durable goods orders for October were stronger than expected. Hewlett Packard (HPQ) reported its final quarterly results as a combined company. The report was disappointing in both earnings and revenue as Hewlett Packard continues to struggle with slow PC sales. The two companies being created by the split both issued weak guidance into early 2016. Deere and Company (DE), however, beat profit expectations even as crop prices decline and the overall farm economy is weak. It's worldwide revenues fell 25% in the quarter. Amid a glut in farm equipment that farmers don't want to buy right now, Deere has cut back on production and furloughed workers.