- The major Wall Street indices opened higher on Thursday.
- Tech stocks post impressive gains after the opening bell.
- Energy stocks underperform amid falling crude oil prices.
The main US stock indices They opened higher on Thursday as the negative impact of the FOMC Minutes on market sentiment appears to have faded. At time of writing, the Dow Jones Industrial Average was virtually unchanged on the day at 33,883, the S&P 500 Index was up 0.4% to 4,132, and the Nasdaq Composite was up 1% to 13,370.
Reflecting the improving market mood, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, was down 4% on the day.
Among the top 11 sectors in the S&P 500, the risk-sensitive technology and communication services indices gain about 1%. On the other hand, the Energy Index is losing pressure of 1.38% due to a 1% drop in US crude prices.
Earlier in the day, data released by the US Department of Labor showed that weekly Initial Unemployment Claims fell to 444,000 from 478,000. This reading came out better than the market expectation of 450,000.
S&P 500 chart (daily)
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