- Rising crude oil prices boost energy shares on Monday.
- Recovering US T-bond yields lift financial shares in early trade.
- Defensive sectors remain in negative territory to cap main indexes’ upside.
Major equity indexes in the United States opened the day modestly higher as investors refraining from making large bets ahead of this week’s key macroeconomic data releases and central bank meetings. As of writing, the Dow Jones Industrial Average was up 0.1% on the day while the S&P 500 and the Nasdaq Composite were both adding 0.15%.
Among the 11-major S&P 500 Sectors, the Energy Index is up nearly 1% on the day boosted by a more-than-1% increase in the price of the barrel of West Texas Intermediate (WTI). Additionally, the rising Treasury bond yields help the rate-sensitive Financials Index gain around 0.8%.
On the other hand, the defensive sectors, Utilities, Real Estate, and Healthcare indexes, post losses at the beginning of the session to point to upbeat market sentiment.
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