S&P 500 opens in the negative territory below 4,200

Wall Street's main indexes push lower on Thursday.
All major sectors of S&P 500 trade in the negative territory.
Upbeat US data releases failed to help market sentiment improve.

Eren Sengezer FXStreet

Major equity indexes in the US opened deep in the negative territory on Thursday despite the upbeat macroeconomic data releases from the US. As of writing, the S&P 500 was down 0.6% on the day at 4,183, the Dow Jones Industrial Average was losing 0.45% at 34,443 and the Nasdaq Composite was falling 0.9% at 13,555.

Reflecting the risk-averse market environment, the CBOE Volatility Index (VIX), Wall Street's fear gauge, is rising more than 7% on a daily basis.

All major sectors of the S&P 500 push lower after the opening bell and the risk-sensitive Technology Index is losing 1.2% as the biggest percentage decliner.

Earlier in the day, the data published by the Automatic Data Processing (ADP) Research Institute showed that private sector employment in the US increased by 978,000 in May. This reading beat the market expectation of 654,000 by a wide margin. Additionally, the US Department of Labor reported that the weekly Initial Jobless Claims declined to 385,000.

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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