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S&P 500 Index Opens Sideways, Energy Stocks Capitalize on Rising Oil Prices

  • The major Wall Street indices opened near last week’s closing levels.
  • Energy stocks post strong gains on rising crude oil prices.
  • Tech stocks underperform after Monday’s opening bell.

The main US stock indices They started the new week in a relatively calm way amid the variation of the results of the main sectors. At time of writing, the S&P 500 Index was unchanged on the day at 4,542, the Dow Jones Industrial Average was losing 0.1% at 35,642, and the Nasdaq Composite was lateralized at 15,092.

Among the top 11 sectors in the S&P 500, the Energy Index has risen 1.1% supported by rising crude prices. Earlier in the day, a barrel of West Texas Intermediate (WTI) reached its strongest level in seven years at $ 85.35.

On the other hand, the Communication Services Index is down 0.55% as the biggest decline after the opening bell.

Hours earlier, the Federal Reserve Bank of Chicago reported that economic growth lost momentum in September with its National Activity Index falling to -0.13 from 0.05 in August.

S&P 500 chart (daily)

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