LIVE MARKETS-Defensive stocks shine as investors await market tests
SPY•Dividend shares draw interest
Reflecting investors’ preference for defensive plays, dividend-paying shares drew interest, with the S&P 500 Dividend Aristocrats ETF NOBL.K posting a record closing high.
Defensive sectors lead while technology lags
Despite the benchmark index's decline, most S&P 500 sectors finished higher, led by consumer staples .SPLRCS, financials .SPSY, communication services .SPLRCL and utilities .SPLRCU, each up more than 1%, while technology .SPLRCT was the weakest-performing group, falling more than 1%.
Under the surface, big banks .SPXBK and gold and silver miners .XAU gained, while semiconductor stocks .SOX lagged. Value .IVX shares outperformed growth .IGX stocks.
Markets turn defensive ahead of key catalysts
Technology stocks dragged the S&P 500 and Nasdaq lower on Monday as investors assessed fresh U.S. economic pressure on Iran and prepared for a pivotal week featuring a key inflation report, Nvidia's NVDA.O earnings and the Federal Reserve's Jackson Hole symposium.
