- The major Wall Street indices opened near Tuesday’s closing levels.
- Energy stocks underperform as oil loses bullish momentum.
- Tech rises after the opening bell.
As indicated by inactivity in futures trading, the main US stock indices they opened near Tuesday’s closing levels on Wednesday. At time of writing, the S&P 500 remained sideways at 4,487, the Dow Jones Industrial Average was down 0.2% to 35,298 and the Nasdaq Composite Index was up 0.15% to 15,045.
Hours earlier, the US Census Bureau reported that July durable goods orders fell 0.1%, or $ 0.4 billion, to $ 257.2 billion. Although this reading was better than the market’s expectation of a 0.3% decline, it failed to trigger a notable market reaction.
Among the top 11 sectors in the S&P 500, the Energy Index is down 0.4% as the oil recovery appears to have lost momentum. On the other hand, the Technology and Finance indices both rose around 0.3% as the best performers after the opening bell.
S&P 500 chart (daily)
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