S&P 500 Index opens modestly lower, energy shares slide

Wall Street's main indexes opened mixed on Tuesday.
Energy stocks post large losses amid slumping crude oil prices.
Technology shares trade in the positive territory after the opening bell.

Eren Sengezer FXStreet

Following a long weekend, major equity indexes opened mixed on Tuesday. As of writing, the S&P 500 was down 0.2% on the day at 4,343, the Dow Jones Industrial Average was losing 0.37% at 34,658 and the Nasdaq Composite was up 0.1% at 14,741.

Among the 11 major S&P 500 sectors, the Energy Index is losing 1.77% pressured by a more-than-2% decline seen in crude oil prices. Additionally, the 2.6% drop in the benchmark 10-year US Treasury bond yield is weighing on the Fİnancials Index, which was last down 1.3%.

On the other hand, the Technology Index is up 0.4% as the best performing major sector after the opening bell. Later in the session, the ISM Services PMI for June will be watched closely by market participants.

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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