- The major Wall Street indices are trading mixed on Thursday.
- Financial stocks post strong gains on rising US Treasury yields.
- Retail sales in the US unexpectedly increased in August.
The main US stock indices They opened mixed amid mixed results from major sectors on Thursday. At time of writing, the S&P 500 was flat on the day at 4,480, the Nasdaq Composite was down 0.1% to 15,145, and the Dow Jones Industrial Average was up 0.25% to 34,900.
Data released by the US Census Bureau on Thursday showed that retail sales in August increased 0.7% to $ 618.7 billion. This reading was much better than the market’s expectation of a 0.8% drop, but it does not appear to have a significant impact on market sentiment.
Among the top 11 sectors of the S&P 500, the Financial Index is up 0.55% after the opening bell driven by a more than 3% rise seen in the benchmark yield on US Treasuries at 10 years. On the other hand, the material index lost 0.8%.
S&P 500 chart (daily)