S&P 500 Index opens little changed ahead of first presidential debate

Wall Street's main indexes turn quiet following Monday's rally.
Energy shares underperform pressured by falling crude oil prices.
Focus shifts to the first presidential debate between Joe Biden and Donald Trump.

Eren Sengezer FXStreet

Following Monday's impressive rally, major equity indexes in the US opened little changed on Tuesday as investors seem to be opting out to stay on the sidelines ahead of the first presidential debate. As of writing, the S&P 500 Index was virtually unchanged on the day at 3,351, the Dow Jones Industrial Average was down 0.15% on the day at 27,542 and the Nasdaq Composite was up 0.14% at 11,132.

Reflecting the indecisive market mood, five of 11 major S&P 500 sectors trade in the negative territory while six of them register gains. The Energy Index is the worst performer of the day, losing 1.3% on the day pressured by a 1.9% decline in US crude oil prices. On the other hand, the defensive Utilities Index is up 0.4%.

Among S&P 500-listed companies, Molson Coors Beverage Co (TAP: NYSE) is up 3.45% as the biggest daily percentage gainer.

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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