- The major stock indices are trading in negative territory.
- The S&P 500 energy index is up more than 1%.
- Tech stocks tumble lower after posting strong gains on Monday.
The main Wall Street indices They opened in negative territory on Tuesday as investors appear unwilling to take large positions in the absence of releases of important macroeconomic data and fundamentals. At time of writing, the S&P 500 Index was down 0.35% on the day to 3,686, the Dow Jones Industrial Average was losing 0.57% to 30,047 and the Nasdaq Composite was down 0.21% to 12,493.
Among the top 11 sectors in the S&P 500, the Energy Index is up 1.1% as the top performer in early trading. On the other hand, the Technology Index and the Communication Services Index, which posted strong gains on Monday, are losing 0.35% and 0.65%, respectively.
Hours earlier, data released by the US Bureau of Labor Statistics showed that unit labor costs in the third quarter declined 6.6% annually, but this reading was largely ignored by market participants.
S&P 500 chart (daily)
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