- Technology rebounds strongly on Tuesday.
- Defensive sectors and energy underperform in early trade.
- Nasdaq adds more than 1%.
Following yesterday’s sharp drop, major equity indexes in the United States started the day on a positive note led by an impressive rebound witnessed in technology shares.
After closing the previous day nearly 3% lower, the S&P 500 Technology Index recovered on Tuesday and was last seen up 0.7%. The tech-heavy Nasdaq Composite Index also gained traction and rose to 6,876.12 points in the first hour of the session, where it was up 0.65% on the day. Furthermore, the S&P 500 Industrials Index gaining 0.6% to support the strong start.
On the other hand, pressured by disappointing earning figures, Home Depo shares fell more than 1% to weigh on the Dow Jones Industrial Average, which was virtually unchanged on the day at the time of writing near 25,400 points. Additionally, falling crude oil prices continue to hurt the S&P 500 Energy Index and limit the S&P 500’s gains. At the moment, the energy sector is down 0.05% and the S&P 500 is adding 0.55% at 2,741.19 points.
Share
