S&P 500 Index opens slightly lower, holds above 4,400
- Wall Street's main indexes opened near Friday's closing levels.
- Technology shares edge lower after the opening bell.
- S&P Energy Index is up more than 2% on Monday.
Major equity indexes in the US opened modestly lower on Monday as investors seem to be opting out to stay on the sidelines ahead of this week's key macroeconomic events.
As of writing, the S&P 500 Index, which touched a record high of 4,415 on Friday, was posting small daily losses at 4,408. The Dow Jones Industrial Average is virtually unchanged on the day at 35,077 and the Nasdaq Composite is down 0.25% at 14,795.
Among the 11 major S&P 500 sectors, the Technology Index is down 0.55%, possibly pressured by profit-taking. On the other hand, the Energy Index is up 2.1% as the barrel of West Texas Intermediate continues to trade around $72 following the sharp rebound witnessed in the second half of the previous week.
On Wednesday, the FOMC will announce its Interest Rate Decision and publish its Monetary Policy Statement. On Thursday, the US Bureau of Economic Analysis will release its first estimate of annualized GDP growth in the second quarter.
S&P 500 chart (daily)
