US Equities: Dow & S&P close higher while Nasdaq drops

Eren Sengezer FXStreet

Major equity indexes in the U.S. closed the first trading day of the second half of 2017 mixed as the rise in energy, and financial stocks were countered by another drop in tech shares.

As crude oil prices continued to recover on Monday, oil giants like Exxon and Mobil Chevron recorded solid gains, pushing the S&P energy index 2% higher and allowing the S&P 500 to close the day at 2,432.88, up 2.88 points. "Oil is rallying today, so that is causing some excitement in the energy space, but that is what you would expect because oil has been so beaten up," Ken Polcari, Director of the NYSE floor division at O’Neil Securities in New York, told Reuters.

In the meantime, the Dow Jones Industrial Average gained 130 points, or 0.6%, to finish the day at 21,479.27 as the financials added 1.3%. On the other hand, the technology dragged down the heavy-tech Nasdaq Composite Index once again, and the index lost 30.36 points, or 0.49%, to close at 6,110.06.

Headlines from the U.S. session

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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