S&P 500 Index opens above 3,500 boosted by tech stocks

S&P 500 Index opens above 3,500 boosted by tech stocks

  • Wall Street’s main indexes opened higher on Monday.
  • Technology stocks are posting strong gains at the start of the week.
  • S&P 500 Energy Index trades in the negative territory.

Major equity indexes started the new week on a firm footing. As of writing, the S&P 500 was up 0.75% on the day at 3,503, the Dow Jones Industrial Average was gaining 0.4% at 28,698 and the Nasdaq Composite was rising 1.55% at 11,905.

Among the 11 major S&P 500 sectors, the Communication Services and the Technology Index both rise more than 1% supported by strong gains witnessed in Twitter Inc, Amazon.com Inc and Facebook Inc shares. On the other hand, the Energy Index is down 0.92% pressured by a more-than-3% drop seen in US crude oil prices.

There won’t be any significant macroeconomic data releases from the US in the remainder of the day and investors are unlikely to get any fresh developments surrounding the US stimulus talks due to the Columbus Day holiday.

S&P 500 chart (daily)

Credit: FX Street

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