- The major Wall Street indices opened in negative territory.
- Energy stocks post strong gains on rising crude oil prices.
The major stock indices in the US opened in negative territory on Monday as investors appear to be on the sidelines ahead of the FOMC’s critical monetary policy announcements on Wednesday.
At time of writing, the S&P 500 is down 0.15% on the day to 4,240, the Dow Jones Industrial Average is down 0.27% to 34,385, and the Nasdaq Composite is down 0.08% to 13,987.
Among the top 11 sectors of the S&P 500, the Energy Index is rising 0.77% supported by rising crude prices. At the moment, a barrel of West Texas Intermediate (WTI) is trading at its strongest level since October 2018 at $ 71.60, up 1.15%. On the other hand, the Materials Index is losing 0.62% as the highest percentage of losers after the opening bell.
S&P 500 chart (daily)