US stocks trade flat near record highs, Nasdaq outperforms


Major US equity indices witnessed a flat opening on Thursday, with Nasdaq Composite outperforming and extending rally into eight consecutive sessions.

The broader S&P 500 Index remains within striking distance of the all-time high set on Jan. 26, as investors preferred to focus on mostly positive corporate earnings rather than the ongoing US-China trade conflicts.

US stock markets had been relatively resilient to the latest trade-related developments, wherein China retaliated to Trump administration's new tariffs and imposed 25% tariffs on $16 billion worth of US products. 

However, investors believed that the underlying strength of the US economy, coupled with quarterly results have been strong enough to shrug off any sort of risk and should support the ongoing strong bullish momentum. 

On the economic data front, initial jobless claims fell more than expected to 213K, while the July PPI was flat, albeit did little to provide any meaningful impetus during the opening hour of trade.

At the time of writing this report, the Dow Jones Industrial Average was down around 10-15 points to 25,570 and the S&P 500 Index treaded water near yesterday's closing level of 2,858. Conversely, tech-heavy Nasdaq Composite Index climbed nearly 13-points and ticked above the 7,900 mark.

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 

EUR/USD News

GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.

GBP/USD News

XAU/USD drops $50 from record highs to the $2020 area

Gold prices are falling sharply on Friday, trading below $2040/oz at the moment. Earlier on Friday, the yellow metal reached at $2075, a new record high.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures