S&P 500 Index consolidates last week's gains, hols above 4,220

Wall Street's main indexes opened mixed on Monday.
Energy shares post strong gains on the back of rising crude oil prices.
Underperforming technology stocks weigh on Nasdaq at the start of the week.

Eren Sengezer FXStreet

Major equity indexes in the US started the new week on a mixed tone amid varying performances of major sectors. As of writing, the S&P 500 Index, which touched a record-high of 4,238 on Friday, was down 0.13% at 4,227, the Dow Jones Industrial was rising 0.54% at 34,967 and the Nasdaq Composite was losing 1.28% at 13,544.

Rising crude oil prices provide a boost to energy stocks on Monday. At the moment, the Energy Index is up more than 2% and the barrel of West Texas Intermediate is rising 0.5% at $65.15. Earlier in the day, reports revealed that a cyberattack forced the US to shut down fuel pipelines.

On the other hand, the Technology Index and the Communication Services Index both lose more than 1%, weighing heavily on the tech-heavy Nasdaq.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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