From The Economic Times · · 1m 30s
US Stocks Muted as Tech Weakness Offsets Energy Gains
Tech stocks dip as oil prices rise ahead of key earnings and Fed rate data.
In brief
Tech stocks dip as oil prices rise ahead of key earnings and Fed rate data. US tech stocks fell slightly while energy stocks rose as oil prices hit two-week highs ahead of major bank earnings and inflation data. Originally reported by The Economic Times.
US markets open flat
The S&P 500 and Nasdaq hovered near the flatline on Monday as weakness in technology stocks offset gains in energy and communication services.
Oil prices reach two-week highs
Brent crude traded above $106 a barrel following deadly strikes on Riyadh’s international airport over the weekend.
US President Trump comments on energy deal
US President Donald Trump said Ukraine and Russia had agreed to halt attacks on each other’s energy infrastructure following a US diesel-supply deal with Moscow.
Tech stocks fall slightly
The S&P 500 communication-services sector gained 1.1%, supported by a 3.2% rise in Meta Platforms. Energy stocks advanced 1.8%, while heavyweight technology shares fell 0.2%.
Bank earnings focus
Major banks, including Goldman Sachs, Citigroup and JPMorgan Chase, are scheduled to begin reporting results on Tuesday.
AI and pricing power in focus
Clark Bellin, president and chief investment officer at Bellwether Wealth, said investors would focus on how companies deploy and profit from AI and whether they can preserve or increase pricing power.
Fed rate data expected
Recent reports showing softer-than-expected inflation and weaker employment growth have reduced expectations of an imminent rate increase, increasing the importance of consumer and producer inflation readings.
At a glance
US tech stocks fell slightly while energy stocks rose as oil prices hit two-week highs ahead of major bank earnings and inflation data.
