S&P 500 Index opens modestly higher, energy shares continue to slide

Wall Street's main indexes post modest gains after the opening bell.
Falling crude oil prices continue to weigh on energy stocks.
Technology shares help Nasdaq Composite push higher on Friday.

Eren Sengezer FXStreet

Although US stock index futures were trading in the negative territory during the European session, Wall Street's main indexes managed to start the last day of the week modestly higher. As of writing, the S&P 500 was up 0.13% on the day at 4,405, the Dow Jones Industrial Average was rising 0.1% at 34,929 and the Nasdaq Composite was gaining 0.37% at 14,596.

Among the 11 major S&P 500 sectors, the Energy Index is the biggest loser on Friday, falling 0.45% pressured by a 1.7% decline in US crude oil prices. On the other hand, the Technology Index is rising 0.35% and helping the tech-heavy Nasdaq Composite push higher.

There won't be any high-tier macroeconomic data releases in the remainder of the day and these indexes are set to register large losses for the week.

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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