S&P 500 Index opens modestly higher, stays below 3,300

Wall Street's main indexes opened mixed on Thursday.
The data from the US showed a strong rebound in economic activity in Q3.
Slumping crude oil prices continue to weigh heavily on energy stocks.

Eren Sengezer FXStreet

Major equity indexes in the US opened mixed on Thursday after the upbeat macroeconomic data releases from the US. As of writing, the S&P 500 was up 0.35% on the day at 3,282, the Dow Jones Industrial Average was down 0.17% at 26,477 and the Nasdaq Composite was rising 0.8% at 11,234.

The advance estimate published by the US Bureau of Economic Analysis showed on Thursday that the real Gross Domestic Product (GDP) in the third quarter grew by 33.1% on a yearly basis. Other data from the US revealed that Initial Jobless Claims declined by 40,000 to 751,000 in the week ending October 24th.

Among the 11 major S&P 500 sectors, the Energy Index is down 1.6% on the day as the worst performer pressured by a more-than-5% decline witnessed in crude oil prices.

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.

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