S&P 500 Index opens in the negative territory pressured by falling energy stocks

Wall Street's main indexes started the last day of November in the negative territory as investors might be looking to book their profits following th  |  30/11/2020 14:55
  • Major equity indexes post modest losses on Monday.
  • The S&P 500 Energy Index is down more than 1%.
  • Technology stocks post small gains in the early trade.

Wall Street's main indexes started the last day of November in the negative territory as investors might be looking to book their profits following the impressive monthly rally. As of writing, the Dow Jones Industrial Average was down 0.82% on the day at 29,661, the S&P 500 Index was losing 0.42% at 3,622 and the Nasdaq Composite was falling 0.17% at 12,237.

Among the 11 major S&P 500 sectors, the Energy Index is losing 1.22% on the day pressure by falling crude oil prices. On the other hand, the Technology Index is posting small gains in early trade.

On Monday, the US Federal Reserve announced that it has extended liquidity facilities for commercial paper, money markets, primary dealers and paycheck protection program until March 31, 2021. This headline, however, failed to provide a boost to market sentiment.

S&P 500 chart (daily)

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