- The major Wall Street indices are trading in negative territory.
- Energy stocks tumble after posting strong gains on Monday.
- Defensive sectors remain on the green after the opening bell.
After posting new all-time highs at the beginning of the week, the major stock indices in the US They opened modestly lower on Tuesday, as investors appear to be booking their gains. At time of writing, the S&P 500 Index is down 0.2% to 3,907, the Dow Jones Industrial Average is down 0.33% to 31,278, and the Nasdaq Composite is down 0.08% to 13,685.
Among the top 11 sectors in the S&P 500, the Energy Index, which rose more than 4% on Monday, is the worst performer after the opening bell, losing 1.77% on the day.
On the other hand, defensive sectors are on the rise, confirming the risk averse market environment. At the moment, the Real Estate and Public Services indices are up around 0.4%.
The only US data released on Tuesday showed that the NFIB Business Optimism Index in January fell to 95 from 95.9 in December, but was largely ignored by market participants.
S&P 500 chart (daily)
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
