- Major equity indexes trade in the negative territory.
- S&P 500 Energy Index is up more than 1%.
- Technology stocks edge lower after posting strong gains on Monday.
Wall Street’s main indexes opened in the negative territory on Tuesday as investors don’t seem to be willing to take large positions in the absence of significant macroeconomic data releases and fundamental drivers. As of writing, the S&P 500 Index was down 0.35% on the day at 3,686, the Dow Jones Industrial Average was losing 0.57% at 30,047 and the Nasdaq Composite was falling 0.21% at 12,493.
Among the 11 major S&P 500 sectors, the Energy Index is up 1.1% as the top performer in the early trade. 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.
Earlier in the day, the data published by the US Bureau of Labor Statistics showed that Unit Labor Costs in the third quarter declined by 6.6% on a yearly basis but this reading was largely ignored by the market participants.
S&P 500 chart (daily)
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