The S&P 500 Index opened little changed on Wednesday, with Nike Inc. climbing after news its CEO bought shares and Tesla Inc. in the green after famed investor Michael Burry said he’s not short despite calling the company “ridiculously overvalued” earlier this month.
The Nasdaq 100 Index and Bloomberg’s Magnificent Seven Index were also flat at 9:38 a.m. in New York. All S&P 500 sectors were in the red, led by communications, materials and real estate, which declined 0.3% or less.