• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Saturday, May 31, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Global Markets

Wall Street Sinks as S&P 500 Dragged by Energy Sector on Oil Demand Concerns

Trading Room Reporter by Trading Room Reporter
in Global Markets
Reading Time: 2 mins read
A A
0
Global Markets Wall Street

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S

Share on FacebookShare on Twitter

Wall Street’s benchmark, the S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financial stocks, keeping Wall Street’s benchmark index near record levels.

RELATED POSTS

US Stock Market Sinks as Tariff Tensions Overshadow Economic Data

Asian Markets Gain as Yuan Falls to Lowest in 17 Years

US Stock Markets Soar Amid Trump’s Tariff Pause Announcement

Energy shares were the worst-performing of the 11 major S&P sectors on wall street, down 1.48% along with crude prices as mounting coronavirus cases and the potential for restrictions, particularly in China, raised worries about the fuel demand outlook.

China reported more COVID-19 infections, while U.S. cases and hospitalizations were at a six-month high as the Delta variant spread.

Financial shares gained, buoyed by a climb in the 10-year U.S. Treasury yield back above 1.30% to its highest level since July 16 as a report on job openings showed further evidence of an improving labour market.

TradingView Chart Snapshot
U.S Government Bond 10 Year yield, performance chart

“In general, of the economically sensitive cyclicals, it is the interest-rate sensitives that are going to celebrate this normalization of yields, even if normal is 1.30% versus where we were a week ago, which was 1.12%. That is driving the action,” said Art Hogan, chief market strategist at National Securities in New York.

Investors will watch U.S. inflation readings this week for hints about the path of Federal Reserve policy. On Monday, Atlanta Fed president Raphael Bostic said the United States should be well past the pandemic crisis before the central bank raises rates. Richmond Fed President Tom Barkin said high inflation this year may have already met one of the Fed’s benchmarks for raising interest rates.

Later this month, a meeting of Fed leaders in Jackson Hole, Wyoming should provide insight into the central bank’s potential plan to begin tapering its bond purchases.

Buy JNews
ADVERTISEMENT
Wall Street Index Overview

The Dow Jones Industrial Average fell 106.66 points, or 0.3%, to 35,101.85, the S&P 500 lost 4.17 points, or 0.09%, to 4,432.35 and the Nasdaq Composite added 24.42 points, or 0.16%, to 14,860.18.

TradingView Chart Snapshot
The S&P 500 Index technical performance chart.

A strong earnings season has helped stocks on wall street climb to record highs over the past two weeks, as several consensus-beating results from major firms reinforced belief in a post-COVID economic recovery.

As of Friday, analysts expected second-quarter profit growth of 93.1% for S&P 500 companies, according to IBES data from Refinitiv. Of the 443 companies in the index that have reported earnings so far, 87.4% beat analyst expectations, the highest on record.

Sanderson Farms Inc climbed 7.41% during trading on wall street after it agreed to be bought for $4.53 billion by commodities trader Cargill Inc and investment firm Continental Grain Co at a time when meat prices have been soaring.

Tyson Foods Inc advanced 8.69% after the meat processing company raised its forecast for fiscal 2021 revenue.

Declining issues outnumbered advancing ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.11-to-1 ratio favoured decliners.

The S&P 500 posted 30 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 83 new highs and 66 new lows.

Volume on U.S. exchanges was 8.55 billion shares, compared with the 9.64 billion average for the full session over the last 20 trading days.

Post Views: 1,082
Tags: Dow Jones Industrial AverageNASDAQNew York Stock ExchangeS&P 500 IndexspotlightU.S. Stock markets
Previous Post

Market Report; 09 August, 2021

Next Post

Gold Trades at Lowest in 6 Months Amidst Rising U.S Treasury Yields

Trading Room Reporter

Trading Room Reporter

Related Posts

US Stocks market Wallstreet data
Global Markets

US Stock Market Sinks as Tariff Tensions Overshadow Economic Data

by Felix Ochieng
Global Markets Asian markets
Asian Stock Markets

Asian Markets Gain as Yuan Falls to Lowest in 17 Years

by Githere Eddie
Donald Trump US Stock Markets Tarrifs
Global Markets

US Stock Markets Soar Amid Trump’s Tariff Pause Announcement

by Trading Room Reporter
US Stock Markets
Global Markets

US Stock Markets Tumble as Tariff Deadline Looms

by Rennie Odek
Next Post
Gold prices

Gold Trades at Lowest in 6 Months Amidst Rising U.S Treasury Yields

Crude Oil Prices

Oil Gains 0.4% after Hitting Three Week Low Amidst Rising Concerns of Spread of COVID-19 in Asia.

Asia Trader

Asian Markets Defy Covid Concerns to Post Gains; Krafton Slumps 17% on Debut

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,110)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,202)
  • Hilda Njeru Takes over at CDSC (2,070)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,924)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,809)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

Cynthia Kropac(R) Chief Enterprise Business Officer Safaricom PLC receives H.E. Minister of Communications and Technology in Somalia - Mohamed Adam to the Safaricom Business Booth. Looking on is H.E. Hon. William Kabogo, Cabinet Secretary, Ministry of Information Communication and Digital Economy in Kenya - during the ongoing Connected Africa Summit 2025 Launch.

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$346.46  3.34%  
GME 
$29.80  0.78%  
MSFT 
$460.36  0.37%  
AAPL 
$200.85  0.45%  
AMC 
$3.56  4.09%  
ABNB 
$129.00  0.50%  
GOOGL 
$171.74  0.07%  
AMZN 
$205.01  0.34%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?