S&P 500 Index opens little changed around 3,900
- Wall Street’s main indexes trade around Monday’s closing levels.
- Energy shares post strong gains as crude oil prices edge higher.
- S&P 500 Technology Index underperforms after the opening bell.
After posting impressive gains on Monday, major equity indexes in the US started the day a little changed as investors are waiting for the next significant catalyst. As of writing, the Dow Jones Industrial Average was unchanged on the day at 31,533, the S&P 500 Index was posting small gains at 3,900 and the Nasdaq Composite was down 0.4% at 13,225.
Among the 11 major S&P 500 sectors, the Energy Index is rising 0.7% supported by a 1% increase in crude oil prices. On the other hand, the Technology Index is down 0.65% as the biggest decliner after the opening bell.
The data from the US showed that the ISM-BY Business Conditions Index slumped to 35.5 in February from 51.2 in January. Later in the session, the IBD/TIPP will release the Economic Optimism Index. Federal Reserve Governor Lael Brainard is scheduled to deliver a speech at 1800 GMT as well.