Market Indexes Play Favorites: Tech Wins, Industrials Sulk on Monday
Tech stocks rallied on Monday while industrials stumbled. The major indexes can't agree on a direction today. Here's why.
Overview
The three major U.S. stock indexes moved in different directions Monday morning as investors weighed competing forces. There's renewed optimism in artificial intelligence infrastructure against persistent concerns about Middle East oil disruptions. Meanwhile, Wall Street faces a heavy week of corporate earnings.
By 11:34 a.m. ET, the Nasdaq Composite (NASDAQINDEX: ^IXIC) index had climbed 0.5%, the S&P 500 (SNPINDEX: ^GSPC) was up 0.3%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) moved 0.3% lower. All three indexes opened modestly higher, and the Nasdaq briefly flirted with a 1% pop around 9:50 a.m. Then the early enthusiasm faded, and the Dow crossed into negative territory before 10:00 a.m.
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Originally published at www.fool.com.