US Stock Markets Today: S&P 500, Dow Jones Open Lower As Post-Christmas Cheer Eludes Wall Street
All the three main US stock market indices opened in red on Thursday, as trading resumed at the Wall Street following Christmas holiday.
The tech-heavy Nasdaq Composite declined 0.3% to trade at 19,970.33 and the broader index, S&P 500, also slipped around 0.3% to 6,021.70 at the opening bell.
The Dow Jones Industrial Average dropped 95.18 points to 43,297.03 as the trading commenced.
Stocks struggled to gain traction in early trade, with mixed jobless claims data doing little to alter bets on the Federal Reserve rate outlook.
Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job. Initial claims, meanwhile, ticked down to 219,000 in the week ended Dec. 21.
Seven of the eleven sectoral indices declined, led by materials sector, consumer staples, energy, and healthcare. Consumer discretionary, communication services, information technology and financials sector saw notable advances.
Among major companies, shares of Viatris Inc., Target Corp., FedEx Corp., Apple Inc., Starbucks Corp., witnessed gains in early trade. On the other hand, Tesla Inc., Nvidia Corp., GE Vernova LLC, Moderna Inc., Meta Platforms Inc., Netflix Inc., Alphabet Inc., saw declines.
Among other asset classes, the yield on 10-year US Treasury bonds advanced four basis points to 4.63%.
The dollar spot index rose 0.1%. The euro was little changed at $1.0398 and British pound fell 0.4% to $1.2516. The Japanese yen fell 0.3% to 157.86 per dollar.
In the commodities market, spot gold rose 0.43% to $2,628.25 an ounce. Brent crude, the global oil benchmark, advanced 0.69%. It was trading at $74.09 per barrel.
Bitcoin, the world's largest traded cryptocurrency, fell 2.8% to $95,652.92. Bitcoin declined even with cryptocurrency stockpiler MicroStrategy Inc. planning to issue more shares, a move that would allow it to buy even more tokens.
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