S&P 500 Index opens modestly higher near 3,920

  • Wall Street’s main indexes started the day in the green.
  • S&P 500 Technology Index is up nearly 1% after the opening bell.
  • Energy shares underperform as crude oil rally loses steam.

Major equity indexes in the US opened modestly higher on Thursday following Wednesday correction. As of writing, the Dow Jones Industrial Average was up 0.15% on the day at 31,489, the S&P 500 Index was rising 0.3% at 3,921 and the Nasdaq Composite was gaining 0.45% at 13,719.

Reflecting the relatively upbeat market mood, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, is down 1.5% after the opening bell.

The risk-sensitive Technology Index is top-performing major sectors in the early trade, rising nearly 1%. On the other hand, the Energy Index is losing 1.05% as crude oil rally seems to have lost its steam with the barrel of West Texas Intermediate consolidating this week’s gains around mid-$58s.

Earlier in the day, the data published by the US Department of Labor showed that the weekly Initial Jobless Claims declined by 19,000 to 793,000 last week but this reading came in worse than the market expectation of 757,000.

S&P 500 chart (daily)

Credit: FX Street

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