Day Traders Diary
The stock market finished little changed on Thursday in a tight-ranged trading session. The S&P 500 (unch) finished fractionally higher, as relative strength from financial and industrial stocks helped mitigate losses from shares of health care companies in front of earnings season.
The Dow Jones Industrial Average lost 0.1%, the Nasdaq Composite lost 0.2%, and the Russell 2000 lost 0.2%.
The S&P 500 seemed content trading in a wait-and-see mode before attempting to break above the 2900 level, which has been an area of resistance for the benchmark index. Despite the lack of market-moving catalysts, the market did receive some positive signals: weekly initial jobless claims hit their lowest level since 1969, and Fed Vice Chair Richard Clarida believes the economy is in a good place.
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