- The major Wall Street indices opened in negative territory.
- Tech stocks underperform after Thursday’s opening bell.
- Financial stocks post modest gains supported by rising US Treasury yields.
The major stock indices in the US They opened modestly lower on Thursday as investors look to reserve their gains in the absence of high-level data releases and fundamentals. At time of writing, the S&P 500 Index was down 0.15% on the day to 4,440, the Dow Jones Industrial Average was down 0.05% to 35,463, and the Nasdaq Composite was down 0.3% to 14,719.
Among the top 11 sectors in the S&P 500, the Tech Index is losing 0.35% after the opening bell. On the other hand, the financial index is posting modest gains supported by a 3% rise seen in the benchmark yield on 10-year US Treasuries.
Hours earlier, the US Department of Labor announced that initial jobless claims decreased by 12,000 to 375,000 in the week ending August 7. In addition, the producer price index increased to 7.8% annually in July from 7.3% in June. However, these readings were largely ignored by market participants.
S&P 500 chart (daily)
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
