S&P 500 opens modestly higher supported by tech stocks

Wall Street's main indexes trade mixed on Monday.
Technology shares post strong gains ahead of key earnings reports.

Eren Sengezer FXStreet

Major equity indexes in the US opened on a mixed note on Monday as investors are gearing up for a busy week filled with the FOMC Meeting, key macroeconomic data releases and earnings reports. As of writing, the S&P 500 was up 0.28% at 3,852, the Dow Jones Industrial Average was losing 0.45% at 30,861 and the Nasdaq Composite was gaining 1.35% at 13,551.

The S&P 500 Technology Index is up 1.45% after the opening bell as the best performing major sector. On the other hand, the S&P 500 Energy Index is losing more than 2% pressured by a sharp U-turn in crude oil prices. At the moment, the barrel of West Texas Intermediate is down 0.3% on the day at $51.90.

Tesla, Apple, Microsoft, Netflix, McDonald’s, Boeing and Caterpillar will be among the companies that will be releasing their quarterly reports this 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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