- Wall Street’s main indexes trade flat on Thursday.
- Initial Jobless Claims in the US rose last week.
- Hawkish shift in FOMC’s policy outlook limits stocks’ upside.
After falling on Wednesday with the FOMC’s Summary of projections showing a hawkish shift in the policy outlook, major equity indexes in the US opened little changed on Thursday.
As of writing, the Dow Jones Industrial Average was up 0.1% on the day at 34,060, the S&P 500 was flat at 4,226 and the Nasdaq Composite was rising 0.15% at 14,001.
Earlier in the day, the data published by the US Department of Labor showed that Initial Jobless Claims rose to 412,000 in the week ending June 12 from 375,000. Nevertheless, this reading doesn’t seem to be having a negative impact on market sentiment.
Among the 11 major S&P 500 sectors, the Materials Index is the biggest percentage decline after the opening bell, losing 0.3%. On the other hand, the Energy Index is up 0.3%.
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