S&P 500 opens slightly higher as focus shifts to Biden’s stimulus package

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  • Major Wall Street indices post small gains Thursday.
  • President-elect Joe Biden is expected to present a coronavirus relief package.
  • The S&P 500 Energy Sector Index rises more than 1% after the opening bell.

The main US stock indices have started slightly higher Thursday as investors wait for President-elect Joe Biden to unveil its coronavirus relief program, which will reportedly be worth around $ 2 trillion.

At the time of writing, the Dow Jones Industrial Average is up 0.25% at 31,140, ​​the S&P 500 is up 0.17% at 3,816, and the Nasdaq Composite is up 0.26% at 13,008.

Hours earlier, data released by the U.S. Department of Labor showed that weekly initial jobless claims increased by 181,000 to 965,000 last week. Although this figure was much worse than analysts’ estimate of 795,000, it does not appear to have a negative impact on market sentiment.

Among the top 11 sectors of the S&P 500, the energy sector index is the one with the best performance at the time of market opening, gaining more than 1%. On the other hand, the defensive public services index lost 0.63%.

S&P 500 diary chart

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