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  • Wall Street’s main indexes extend the weekly rally on Thursday.
  • Technology shares post impressive gains after the opening bell.
  • Financial Index is the only major sector in the red.

Major equity indexes in the US opened in the positive territory for the third straight day on Thursday as risk flows continue to dominate financial markets. As of writing, the Dow Jones Industrial Average was up 0.34% on the day at 32,405, the S&P 500 Index was rising 0.65% at 3,924 and the Nasdaq Composite was gaining 1.62% at 12,958.

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is up 1.5% as the biggest percentage gainer in the early trade. Moreover, the Communication Services Index is up 1.06%.

On the other hand, the Financials Index is the only sector trading in the negative territory, losing 0.6% as US Treasury bond yields remain on the back foot following Wednesday’s 10-year Treasury note auction.

Meanwhile, the data published by the US Department of Labor showed that the weekly Initial Jobless Claims dropped to its lowest post-pandemic level at 712K and helped market sentiment improve.

S&P 500 chart (daily)