S&P 500 Index opens in the negative territory, technology stocks underperform


  • Wall Street's main indexes opened in the red on Thursday.
  • CBOE Volatility Index is up nearly 7% on the day.
  • Defensive sectors trade in the positive territory after the opening bell.

Major equity indexes in the US opened lower following the mixed macroeconomic data releases from the US. As of writing, the S&P 500 was down 0.4% on the day at 4,356, the Dow Jones Industrial Average was losing 0.33% at 34,818 and the Nasdaq Composite was falling 0.6% at 14,812.

Reflecting the risk-averse market environment, the CBOE Volatility Index (VIX), Wall Street's fear gauge, is up nearly 7%.

The US Department of Labor reported on Thursday that Initial Jobless Claims declined to 360K in the week ending July 10. Other data from the US revealed that the NY Empire State Manufacturing Index rose sharply to 43 in July from 17.4 in June and the Philly Fed Manufacturing Index dropped to 21.9 from 30.7.

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is down 0.7% on the day. On the other hand, the defensive Utilities and the Real Estate indexes edge higher after the opening bell.

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD stable at around 1.1700, waiting for a fresh catalyst

The EUR/USD pair has spent most of the last trading session of the day stuck around 1.1700. Upbeat US Durable Goods Orders spurred modest demand for high-yielding assets.

EUR/USD News

GBP/USD hovers around 1.37. dismissing UK petrol crisis

GBP/USD is trading at around 1.37, as sterling shrugs off the drying up of some petrol stations due to Brexit-related lorry driver shortages.

GBP/USD News

EUR/USD stable at around 1.1700, waiting for a fresh catalyst

The EUR/USD pair has spent most of the last trading session of the day stuck around 1.1700. Upbeat US Durable Goods Orders spurred modest demand for high-yielding assets.

EUR/USD News

Shiba Inu stagnation period might result in 20% correction

Shibu Inu price continues to contract and cause frustration for bulls and bears. However, Shibu Inu is trading near the apex of the triangle pattern it is currently inside. Therefore, a breakout lower is likely to occur very soon.

Read more

Conference Board Consumer Confidence: Unhappy but still spending

Consumer Confidence expected to rise slightly to 114.5 in September. August’s confidence reading at 113.8 was the lowest since February. Weak Consumer Confidence did not damage August Retail Sales or Durable Goods Orders.

Read more

Forex MAJORS

Cryptocurrencies

Signatures