U.S. stocks open flat as investors look ahead to U.K. election, Comey testimony
U.S. stocks struggled for direction in early trading on Thursday, with investors awaiting testimony from former Federal Bureau of Investigation Director James Comey. Comey's comments could result in further delays to President Donald Trump's economic agenda, something analysts see as necessary to justifying current valuations. The Dow Jones Industrial Average rose 1 point to 21,176. The S&P 500 added 1.5 point to 2,435. The Nasdaq Composite Index was up 0.2%, or 12.5 points, to 6,309, eking out an intraday record on the strength of Facebook Inc. , which rose 0.8%. Equity markets were also digesting commentary from the European Central Bank, which kept its monetary policy unchanged but suggested it might adopt a more hawkish posture in the future, as well as an election in the U.K., which could dictate the strength of the country's negotiating position in coming Brexit talks. Among the most active names of the day, Nordstrom Inc. surged 19% after the company said it was exploring a "going private" deal.
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