S&P 500 Index opens in positive territory above 4,200 following Friday's drop
- Wall Street's main indexes started March on a firm footing.
- Defensive sectors trade in the negative territory after the opening bell.
Following Friday's drop, major equity indexes in the US opened higher on Monday. As of writing, the S&P 500 was up 0.45% on the day at 4,201, the Dow Jones Industrial Average was rising 0.75% ar 34,126 and the Nasdaq Composite was gaining 0.15% at 13,881.
Among the 11 major S&P 500 sectors, the Energy Index is rising 1.8% on the day supported by a more than 1% increase seen in the US crude oil prices.
On the other hand, the defensive sectors, the Utilities Index and the Real Estate Index, both trade in the negative territory after the opening bell.
Later in the session, the ISM's April Manufacturing PMI report and FOMC Chairman Jerome Powell's speech will be watched closely by market participants.
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.
