- S&P 500 Technology Index adds more than 1% on Monday.
- Financial shares underperform amid falling US Treasury bond yields.
- All 11 major sectors of the S&P 500 trade in positive territory.
Wall Street’s main indexes started the week on a strong footing despite a lack of positive developments regarding the coronavirus outbreak. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 1.1% on the day and the Nasdaq Composite was adding 1.3%.
The stock market’s upbeat performance at the opening on Monday seems to be a reaction to last week’s heavy selloff, which caused the above-mentioned indexes to record their largest percentage declines since 2008 crisis.
Among the 11-major S&P 500 sectors, the Technology Index is up 1.3% to lead the rally. On the other hand, falling US Treasury bond yields and crude oil prices force the Financials and the Energy Index, which barely hold in the positive territory in the early trade, to underperform.
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