S&P 500 Index opens at lowest level since late, stays above 3,200
- Major equity indexes in the US opened modestly lower.
- Rising tech shares helped Nasdaq climb into the negative territory.
- Healthcare stocks underperform in the early trade on Thursday.
Wall Street's main indexes started the day in the negative territory on Thursday but staged a rebound in the first hour of the session. As of writing, the S&P 500 Index, which touched its lowest level since July 30th at 3,209, was down only 0.06% on the day at 3,235. Meanwhile, the Dow Jones Industrial Average was losing 0.15% at 26,719 and the Nasdaq Composite was up 0.25% at 10,858.
The S&P 500's Technology Index and the Communication Services Index both trade in the positive territory, helping the tech-heavy Nasdaq Composite gain traction.
On the other hand, energy stocks are, once again, underperforming with the Energy Index losing more than 1%.
Among the S&P 500-listed companies, Darden Restaurants Inc (DRI: NYSE) shares are up more than 6% boosted by upbeat earnings figures. On the flip side, Carmax Inc (KMX: NYSE) is down more than 8% as the biggest daily percentage decliner.
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.
