S&P 500 opens little changed at 3,730 on New Year's Eve

Wall Street's main indexes trade little changed on Thursday.
US stock markets will close early on New Year's eve.
S&P 500 Energy Index is down nearly 1%.

Eren Sengezer FXStreet

Major equity indexes in the US started the day near Wednesday's closing level as trading volume remains thin on New Year's Eve. As of writing, the Dow Jones Industrial Average was down 0.14% at 30,367, the S&P 500 was losing 0.1% at 3,730 and the Nasdaq Composite was unchanged at 12,863.

Among the 11 major S&P 500 sectors, the Energy Index is down 1% after the opening bell, possibly pressure by profit-taking following this week's strong performance. On the other hand, the Communication Services Index is the top performer in the early trade, gaining 0.4%.

The data published by the US Department of Labor showed on Thursday that the Initial Jobless Claims declined by 19,000 to 787,000 last week but this reading was largely ignored by market participants.

S&P 500 2021 outlook

S&P 500 Price Forecast 2021: Optimism is not inappropriate as bulls could enjoy another 15% winning year.

"The next year appears very positive for equities and the S&P 500," says FXStreet Senior Analyst Joseph Trevisani. "Once the pandemic retreats, deferred global consumer demand should drive a robust expansion in growth."

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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