- The major Wall Street indices are trading little changed Thursday.
- US stock markets will close early on New Years Eve.
- The S&P 500 energy index is down nearly 1%.
The major stock indices in the US They started the day near Wednesday’s closing level as trading volume remains slim on New Years Eve. At time of writing, the Dow Jones Industrial Average was down 0.14% to 30,367, the S&P 500 was down 0.1% to 3,730, and the Nasdaq Composite was unchanged at 12,863.
Among the top 11 sectors in the S&P 500, the Energy Index is down 1% after the opening bell, possibly due to profit-taking pressure following this week’s strong performance. On the other hand, the Communication Services Index is the one with the best performance in the first operation, gaining 0.4%.
Data released by the US Department of Labor showed on Thursday that initial jobless claims fell by 19,000 to 787,000 last week, but this reading was largely ignored by market participants.
S&P 500 outlook for 2021
“Next year looks very positive for stocks and the S&P 500,” says FXStreet Senior Analyst Joseph Trevisani. “Once the pandemic recedes, lagged global consumer demand should drive strong growth expansion.”
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