- The major Wall Street indices are trading mixed on Thursday.
- Falling US Treasury yields weigh on financial stocks.
- Energy stocks regain traction as OPEC meeting begins.
The main US stock indices They opened mixed on Monday amid the variable performances of the main sectors. At time of writing, the S&P 500 Index is trading at a new all-time high of 4,665, up 0.12% on the day. The Dow Jones Industrial Average was down 0.15% to 36,110 and the Nasdaq Composite was up 0.2% to 15,843.
Among the top 11 sectors of the S&P 500, the financial index is down nearly 1% after the opening bell, pressured by the sharp drop in the yield on benchmark 10-year US Treasuries. On the other hand, the Energy Index is up 1.5% on the back of rising crude prices ahead of the OPEC announcements.
Hours earlier, US data showed unit labor costs rose 8.3% in the third quarter, beating the market’s expectation of 5.2% by a wide margin. Additionally, initial weekly jobless claims fell to 269,000, the lowest number since the start of the pandemic.
S&P 500 chart (daily)
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