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  • Dow Jones hits fresh all-time highs on Thursday.
  • Energy shares drop sharply as crude oil erases Wednesday’s gains.

Wall Street’s main indexes opened in the positive territory for the fourth straight day on Thursday and the Dow Jones Industrial Average (DJIA) hit a fresh all-time high before losing its traction. As of writing, the S&P 500 and the Nasdaq Composite were up 0.1% and 0.05% respectively, while the DJIA was virtually unchanged on the day near 29,300 points.

US Treasury Secretary Mnuchin said that they haven’t seen any major problems with regards to supply chains amid the coronavirus outbreak and added that they expect China to fulfil its trade commitments.

Energy shares underperform

Among the 11-major S&P 500 sectors, the Communication Services Index is up 0.75% to lead the winners. On the flip side, the Energy Index is erasing nearly 1% pressured by falling crude oil prices. As of writing, the barrel of West Texas Intermediate was down 1.3% on the day at $50.45.