Following last Friday impressive rally that was triggered by the FOMC Chairman Powell’s cautious tone, major equity indexes in the U.S. started the new week on a mixed note as investors are staying on the sidelines waiting for fresh development on the U.S. – China trade conflict and the ISM non-manufacturing PMI report. As of writing, the Dow Jones Industrial Average was down 0.15% on the day while the S&P 500 and the Nasdaq Composite were gaining 0.12% and 0.38% respectively.
Among the 11 major S&P 500 sectors, consumer discretionary adds more than 1% to lead the gains. On the other hand, utilities is down 0.9%. Meanwhile, the CBOE Volatility Index, so-called Wall Street’s fear gauge which fell sharply on Friday to reflect a higher risk appetite, was last up around 3% on the day to show that the market sentiment has already soured.
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