S&P 500 Index turns positive on the day above 4,400
- Wall Street's main indexes trade mixed after opening lower.
- Energy and financial stocks post heavy losses on Thursday.
- Rising tech shares provide a boost to Nasdaq.
Following a two-day decline, the S&P 500 Index opened in the negative territory and touched its lowest level in three weeks at 4,367. Supported by a sharp rebound in technology stocks, however, the index managed to erase its losses and was last seen posting small daily gains at 4,404.
Similarly, the Nasdaq Composite Index regained its traction and is currently rising 0.67% at 14,956. On the other hand, the Dow Jones Industrial Average remains on the back foot and losing 0.3% at 34,858.
Among the 11 major S&P 500 sectors, the Energy Index is losing more than 3% pressured by the ongoing slump in crude oil prices. The Financials Index is down 1% with the 10-year US Treasury bond yield falling nearly 2% on a daily basis. The Technology Index is the top performer, rising 1.1%.
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.
