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.
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.
