S&P 500 down as Utilities Slide and Energy At Negative levels, Europe Closed Mix
London, Monday, 11 October 2021
S&P 500: -0.27%
Dow Jones: -0.32% or 111 points
Energy stocks ended lower despite oil prices reaching $81 a barrel on expectations that tighter supplies will remain until the end of the year.
Utilities were down more than 1% with investors expecting U.S. Treasury yields to continue their upward trend.
Alliant Energy Corp (NASDAQ: LNT), DTE Energy (NYSE: DTE) and Nextera Energy (NYSE: NEE) were down more than 2%.
The bond market was closed Monday for Columbus Day.
Materials stocks were best performers, led by a 4% jump of Freeport-McMoran Copper & Gold Inc (NYSE: FCX)
Europe closed mixed amid a rally in mining stocks
STOXX Europe 600: +0.05%
FTSE 100: +0.72%
FTSE MIB: -0.46%
(Written and edited by: The Decision Maker)