Wall Street takes a half-hearted step back
SPY•Megacaps are mixed as value outperforms growth
Megacaps were a mixed bag, however, with Microsoft Corp MSFT.O and Amazon.com AMZN.O providing big boosts on the day while Nvidia NVDA.O and Apple Inc AAPL.O were the biggest drags from individual stocks. While the S&P 500 growth index .IGX slipped from its record close in the prior session, its value counterpart .IVX boasted its second record close in a row.
Here is your closing snapshot:
Energy leads gains while real estate, utilities and tech lag
Soaring oil prices provided support for the S&P 500 energy index .SPNY, which finished up 4.6%, putting it well ahead of other sector gainers among the benchmark's 11 major sectors and providing the biggest boost. Healthcare .SPXHC was the next biggest gainer, finishing up 1.7% and marking a record closing high.
The biggest sector decliner was rate-sensitive real estate .SPLRCR with a drop of 1.2% followed closely by utilities .SPLRCU, which was down 1.1%. Also with a decline of 1.1%, heavyweight technology .SPLRCT was by far the biggest index-point drag on the S&P 500.
Wall Street edges lower as investors await earnings and data
On a sluggish day for Wall Street, the S&P 500 .SPX was the strongest of the three major U.S. indexes, with a decline of 0.06% on Monday after the benchmark index finished the prior week with a record close. The blue-chip Dow .DJI fell 0.1%, while the tech-heavy Nasdaq Composite .IXIC lost 0.3% on the day.
As investors waited for the next batch of big earnings and economic data reports, inflation was likely top of mind for some investors as oil rallied 5% with hopes fading for a deal to reopen the Strait of Hormuz any time soon as the U.S. and Iran exchanged demands.
U.S. President Donald Trump demanded Iran pay compensation for the people he said it had killed in wars, attacks and protests in response to Iran's earlier call for Washington to meet conditions, including recompensing Tehran for the damage caused since the U.S. and Israel launched strikes on its territory more than five months ago.
