U.S. stocks went up at the open Thursday, though the stock market continues to show sideways, range-bound action this month. The S&P 500 SPX, +0.77% was last up 12 points, or 0.6%, to 2,110, while the Dow Jones Industrial Average DJIA, +0.91% gained 120 points, or 0.7%, to 18,180.
Before the open, stock futures had maintained gains after weekly jobless claims and a headline figure for inflation both unexpectedly declined. “A breakout has been elusive for the SPX as investors have focused beyond the equity market,” said Katie Stockton, chief technical strategist at BTIG, in a note Thursday.
Investors have been fixated on a volatile bond market, among other things, and SPX refers to the S&P 500. “As earnings season winds down, we would note that support levels remain intact for the major indices, and breakdowns were not too numerous among individual stocks,” Stockton added.
Source: MarketWatch
