S&P 500 Index opens modestly lower, tech shares underperform
|- Wall Street's main indexes opened in the negative territory.
- Tech stocks underperform after the opening bell on Tuesday.
- Energy shares push higher ahead of Thursday's OPEC meeting.
Major equity indexes in the US opened modestly lower on Thursday as investors seem to be staying on the sidelines on the last day of the second quarter. As of writing, the Dow Jones Industrial Average was down 0.17% on the day at 34,325, the S&P 500 was losing 0.2% at 4,283 and the Nasdaq Composite was falling 0.15% at 14,551.
Earlier in the day, the data published by the Automatic Data Processing (ADP) Research Institute revealed that private sector employment increased by 692,000 in June. This reading followed May's print of 886,000 (revised from 978,000) and came in better than the market expectation of 600,000.
Among the 11 major S&P 500 sectors, the Communication Services and the Technology indexes are both down around 0.2% after the opening bell. On the other hand, the Energy Index is rising as investors are waiting for OPEC+ to announce its output strategy following Thursday's meeting.
S&P 500 chart (daily)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.