Mixed Open for Major US Indices

IconCryptoNewsTerminal Staff18 Jul, 2024

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Mixed Open for Major US Indices

The three major US indices had a mixed start to the trading day on Wednesday. The S&P 500 and Nasdaq Composite gained 0.2% and 0.61%, respectively, while the Dow Jones Industrial Average fell 0.3%. The S&P 500 is on track for its third straight day of gains, while the Nasdaq is looking to extend its winning streak to four days. The Dow, on the other hand, is on track to snap a three-day winning streak. Among the major sectors, energy was the biggest gainer, rising 1.5%. Technology and consumer discretionary stocks also posted solid gains. Financials and utilities were the only sectors to trade lower. The mixed open comes after a volatile session on Tuesday, which saw the Dow swing more than 500 points at one point. The Dow eventually closed down 1.2%, while the S&P 500 and Nasdaq fell 0.6% and 0.4%, respectively. Investors are likely to remain cautious ahead of the release of the latest consumer price index (CPI) data on Thursday. The CPI is a key measure of inflation and could have a significant impact on the Federal Reserve's interest rate policy.

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