- The S&P 500 Index started the week on a solid footing.
- All major sectors of the S&P 500 trade green.
- Focus shifts to PMI data, US election polls.
After suffering heavy losses last week, the major Wall Street indices opened strongly higher on Monday as investors prepare for the US presidential election. At time of writing, the S% P 500 Index was up 1.15% on the day to 3,306, the Dow Jones Industrial Average was up 1.1% to 26,787 and the Nasdaq Composite was up 0.85% to 11,004.
The top 11 sectors of the S&P 500 are trading in positive territory after the opening bell and the Materials Index leads the rally with a daily gain of 1.65% at press time. On the other hand, the Energy Index has risen only 0.4%, pressured by the poor performance of crude prices.
Later in the session, IHS Markit and ISM will release their October Manufacturing PMI reports. Additionally, market participants will be on the lookout for election polls, especially swing states like North Carolina, Florida, Iowa, and Ohio.
S&P 500 chart (daily)
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Credits: Forex Street
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