S&P 500 Index opens modestly higher, stays above 3,300
- Wall Street's main indexes trade mixed on Wednesday.
- Falling technology shares weigh on the Nasdaq Composite.
- Industrial shares are posting strong gains ahead of PMI data.
Major equity indexes in the US started the day on a mixed note on Wednesday as investors are waiting for the next significant catalyst. As of writing, the S&P 500 Index was up 0.07% on the day at 3,317, the Dow Jones Industrial Average was gaining 0.55% at 27,436 and the Nasdaq Composite was down 0.5% at 11,129.
Ahead of the IHS Markit's Manufacturing PMI report, the S&P 500 Industrials Index is up 0.85% on the day as the best-perofrming major sectors.
On the other hand, risk-sensitive Technology and Communication Services indexes are both down around 0.3% in the early trade.
After the opening bell, Nike Inc (NKE: NYSE) is up nearly 10% on the day at $128.55 boosted by price target hikes announced by at least 10 brokerage firms.
S&P 500 chart (daily)