- US stocks opened higher Thursday breaking with a week of losses.
- The S&P 500 was poised to turnaround from four straight lower sessions.
- That is the longest losing streak for the benchmark so far in 2023.
US stocks opened higher on Thursday, with major indexes set to mark a turnaround from a disappointing week.
The S&P 500 has notched four straight losses, which is the longest losing streak for the benchmark so far in 2023. From Friday to Wednesday, the S&P 500 declined nearly 4%.
Investor worry over potentially higher interest rates in the US fueled the downward trajectory for Wall Street, and Wednesday’s release of minutes from the last FOMC meeting did little to ease those concerns.
Here’s where US indexes stood at the 9:30 a.m. ET open on Thursday:
Here’s what else happened today:
- Morgan Stanley said ChatGPT will keep providing wrong answers until the mobile rollout for the chatbot is complete.
- The central bank won’t cut interests rates, but a soft landing is still possible, according to a Goldman Sachs strategist.
- Shares of EV maker Lucid fell 10% on a declining production outlook from the company.
In commodities, bonds and crypto:
- West Texas Intermediate crude oil climbed 1.50% to $75.03 per barrel. Brent crude, oil’s international benchmark, added 1.06% to $81.47.
- Gold ticked up 0.15% to $1,8327.71 per ounce.
- The yield on the 10-year Treasury gained 1.8 basis points to 3.937%.
- Bitcoin fell 0.05% to $24,130.33.