S&P 500 Index opens lower following Monday's rebound, energy stocks plunge
|- Wall Street's main indexes trade little changed on Tuesday.
- Energy shares fall sharply pressured by plunging crude oil prices.
- Investors await FOMC Chairman Powell and Treasury Secretary Yellen's testimony.
Major equity indexes started the day relatively close to Monday's closing levels as investors seem to be refraining from taking large positions ahead of FOMC Chairman Jerome Powell's and Treasury Secretary Janet Yellen's testimony before Congress.
As of writing, the S&P 500 Index was down 0.2% on the day at 3,932, the Dow Jones Industrial Average was losing 0.25% at 32,656 and the Nasdaq Composite was rising 0.3% at 13,127.
Among the 11 major S&P 500 sectors, the Energy Index is down 2% after the opening bell pressured by a 3.5% decline in crude oil prices. Meanwhile, the Financials Index is losing 0.4% as the 10-year US Treasury bond yield is losing more than 2% for the second straight day on Tuesday. On the other hand, the Technology Index is posting modest daily gains.
Later in the session, New Home Sales and Richmond Fed Manufacturing Index data will be featured in the US economic docket.
S&P 500 chart (daily)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.