S&P 500 Index notches new all-time high, closes in on 4,100
- Wall Street's main indexes opened mixed on Thursday.
- DJIA stays in the negative territory amid falling financial stocks.
- Tech shares fuel an impressive rally in Nasdaq Composite.
Following a two-day consolidation phase, the S&P 500 Index (SPX) opened in the positive territory on Thursday and touched a new record high of 4,093. As of writing, the SPX was up 0.27% on the day at 4,090, the Dow Jones Industrial Average was losing 0.15% and the tech-heavy Nasdaq Composite was rising 0.9% at 13,741.
Among the 11 major S&P 500 sectors, the Technology Index is up 1.05% as the best performer in the early trade. On the other hand, the Financials Index is losing 0.7% pressured by a more-than-2% decline in the benchmark 10-year US Treasury bond yield.
Earlier in the day, the data published by the US Department of Labor showed that the weekly Initial Jobless Claims rose to 744,000. This reading came in worse than the market expectation of 680,000 but had little to no impact on market sentiment.
Later in the session, FOMC Chairman Jerome Powell's speech will be looked upon for fresh impetus.
S&P 500 chart (daily)
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
