- The major Wall Street indices open negative on Tuesday.
- The drop in oil prices weighs on energy sector stocks.
- All major sectors of the S&P 500 are moving lower.
The main US stock indices They have started the day downas the vaccine-inspired rally appears to have waned. At the time of writing, the S&P 500 is down 0.86% on the day at 3,595, the Dow Jones Industrial Average is down 1.3% at 29,560 and the Nasdaq Composite is down 0.13% at 11,994.
Reflecting the market sentiment of caution, the CBOE volatility index (VIX), the Wall Street fear indicator, is rising almost 5% after the opening bell.
Among the top 11 sectors of the S&P 500, the energy sector index falls 2.5% due to a drop of more than 1% in oil prices.
Earlier in the day, data released by the U.S. Census Bureau showed that retail sales in October increased 0.5%. This figure did not meet the market expectation and did not allow market sentiment to improve. Later in the session, investors will turn their attention to the FOMC chairman’s speech, Jerome Powell.
S&P 500 daily chart
.
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.
