Wall Street flat on mixed economic data

New York Stock Exchange Image copyright Getty Images

(Close): Wall Street closed flat on Wednesday after weekly jobs claims fell more than expected but consumer spending data disappointed.

Investors focused on economic news after concerns on Tuesday over geopolitical tensions caused by Turkey shooting down a Russian plane.

The main Dow Jones index was up 1 point at 17,813.

The wider S&P 500 was flat at 2,088.29, while the tech-heavy Nasdaq was up 13 points at 5,116.

On the Dow, drugs giant Pfizer climbed for the second day in a row, up 3% after having fallen initially on the announcement of its $160bn takeover of Allergan on Monday.

Tractor giant Deere jumped 5% after its earnings beat analysts' forecasts.

HP Inc lost 14% after reporting weak sales of PCs, printers and commercial software. Spun off Hewlett Packard Enterprise rose 3% after reporting better sales of hardware for data centres.

US markets will be closed on Thursday for the annual Thanksgiving holiday. They will re-open for a shorter than normal session on Friday.