S&P 500 Index opens sideways after two-day rally

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  • The major Wall Street indices are trading mixed on Thursday.
  • Weekly US jobless claims rose sharply last week.
  • Energy stocks turn south as the oil rally loses steam.

The main stock indices They opened near Wednesday’s closing levels as the risk rally appears to have started to lose steam. At time of writing, the S&P 500 was down 0.1% on the day to 4,354, the Dow Jones Industrial Average was losing 0.33% to 34,683, and the Nasdaq Composite was up 0.25% to 14,883.

Earlier in the day, data from the US showed that initial weekly jobless claims increased by 51,000 to 419,000. Additionally, the Federal Reserve Bank of Chicago’s national activity index fell to 0.09 in June from 0.26 in May. These uninspiring figures appear to be weighing on market sentiment.

Among the top 11 sectors of the S&P 500, the Energy Index is down 1.5% as crude oil prices struggle to take advantage of Wednesday’s strong gains. On the other hand, the Technology Index is the one with the best performance after the opening bell, with an increase of 0.6%.

S&P 500 chart (daily)

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