- The major Wall Street indices opened decisively higher on Thursday.
- The US economy grew stronger than expected in the first quarter.
- The S&P 500 Communications Services Index is up more than 2%.
The main US stock indices They opened sharply higher on Thursday as investors applauded the upbeat macroeconomic data released. At time of writing, the S&P 500 Index was up 0.73% to 4,213, a new all-time high, the Nasdaq Composite was up nearly 1% to 14,036, and the Dow Jones Industrial Average was up 0.4% to 33,956.
In its first estimate, the US Bureau of Economic Analysis reported that real GDP expanded at an annual rate of 6.4% in the first quarter of 2021. This reading was better than analysts’ estimate of 6.1%. Additionally, weekly Initial Unemployment Claims decreased from 13,000 to 553,000.
Among the top 11 sectors in the S&P 500, the Communication Services Index has risen more than 2% as the best performer after the opening bell. On the other hand, the health index is losing 0.3% as the only major sector trading in negative territory.
S&P 500 chart (daily)
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