• S&P 500 Index opens slightly lower, holds above 3,600

    • Wall Street’s main indexes opened mixed on Wednesday.
    • Investors don’t seem to be paying much attention to US data.
    • Energy shares fall sharply ahead of Thanksgiving break. 

    Major equity indexes in the US started the day on a mixed note on Wednesday as investors don’t seem to be enthusiastic about taking large positions ahead of the Thanksgiving Day holiday. 

    As of writing, the S&P 500 Index was down 0.2% on the day at 3,627, the Dow Jones Industrial Average was losing 0.4% at 29,926 and the Nasdaq Composite was up 0.35% at 12,125.

    The US Bureau of Economic Analysis reported on Wednesday that it left the third-quarter GDP growth steady at 33.1% in its second estimate. Other data from the US showed that Durable Goods Orders in October rose by 1.3% to surpass the market expectation of 0.9% and the trade deficit widened to $80.29 billion in October from $79.36 billion in September.

    Later in the session, the University of Michigan’s Consumer Sentiment Index and the FOMC’s November Minutes will be looked upon for fresh catalysts.

    Among the 11 major S&P 500 sectors, the Energy Index is down nearly 2% pressured by profit-taking following the impressive rally witnessed in energy stocks on Monday and Tuesday.

    S&P 500 chart (daily)

     

    Join the Discussion

    Your email address will not be published. Required fields are marked *

    Back to top