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13 Jan 2020
Wall Street opens modestly higher supported by tech shares
- Technology Index adds more than 0.6% in early trade.
- Energy shares continue to underperform on falling crude oil prices.
Wall Street's main indexes started the first day of the week modestly higher supported by the upbeat market mood and the strong performance of technology shares. As of writing, the Dow Jones Industrial Average was up 0.16% on the day while the S&P 500 and the Nasdaq Composite were adding 0.25% and 0.45%, respectively.
The US and China are scheduled to sign the phase-one of the trade agreement on Wednesday and investors will be finally seeing the details of the agreement. Furthermore, US Treasury Secretary Mnuchin over the weekend said that phase-two trade talks will start soon.
Among the 11-major S&P 500 sectors, the Technology Index is up 0.66% on the day to lead the winners. On the other hand, the Energy Index is down 0.3% as the barrel of West Texas Intermediate is erasing more than 1+ on a daily basis to trade around $58.50.