Wall Street opens modestly lower as volume remains thin on Columbus Day
|- Falling crude oil prices weigh on energy shares on Monday.
- Investors move to sidelines while assessing the "phase one" trade deal with China.
Following the impressive rally witnessed in the second half of the previous week, major equity indexes in the United States (US) started the new week in the negative territory as investors are moving to the sidelines while assessing the details of the "phase one" trade deal with China that was announced on Friday.
As of writing, the Dow Jones Industrial Average is down 0.25% on the day while the S&P 500 and the Nasdaq Composite are erasing 0.3% and 0.17%, respectively.
Among the 11 major S&P 500 sectors, the Energy Index is down 0.8% in the early trade pressured by a more-than-2% drop in crude oil prices. On the other hand, the defensive Utilities Index is up 0.25% to reflect that the market sentiment is turning negative on the day.
Nevertheless, Wall Street's main indexes are expected to stay relatively calm in the remainder of the day dur to the Columbus Day holiday in the US.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.