S&P 500 Index opens modestly lower, remains above 4,400

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  • The major Wall Street indices opened near Friday’s closing levels.
  • Tech goes down after the opening bell.
  • The S&P energy index rose more than 2% on Monday.

The main US stock indices They opened modestly lower on Monday as investors appear to choose to stay on the sidelines ahead of major macroeconomic events this week.

At time of writing, the S&P 500 Index, which hit an all-time high of 4,415 on Friday, posted small daily losses at 4,408. The Dow Jones Industrial Average is virtually unchanged for the day at 35,077 and the Nasdaq Composite is down 0.25% to 14,795.

Among the top 11 sectors of the S&P 500, the Technology Index is down 0.55%, possibly pressured by profit-taking. On the other hand, the Energy Index has risen 2.1% as a barrel of West Texas Intermediate continues to trade around $ 72 after the strong rebound observed in the second half of the previous week.

On Wednesday, the FOMC will announce its Interest Rate Decision and publish its Monetary Policy Statement. On Thursday, the US Bureau of Economic Analysis will release its first estimate of annualized GDP growth in the second quarter.

S&P 500 chart (daily)

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