Wall Street trades mixed amid varying performances of major sectors
- Energy shares suffer heavy losses amid plummeting crude oil prices.
- Consumer Staples and Healthcare sectors perform well on Monday.
Wall Street's main indexes started the new week on a strong footing but seem to be having a tough time gathering momentum. As of writing, the Dow Jones Industrial Average, which dipped into the negative territory after the opening bell, was flat on the day while the S&P 500 and the Nasdaq Composite were adding 0.9% and 1.7%, respectively.
Falling crude oil prices continue to weigh on energy shares
With the barrel of West Texas Intermediate erasing more than 7% and trading at its lowest level in more than 10 years near $20 amid demand concerns, the S&P 500 Energy Index is down 3.3% in the early trade.
On the other hand, the Healthcare Index and the Consumer Staples Index are both up more than 2% as best-performing sectors on Monday.
Earlier in the day, US President Trump said that he was considering hazard pay for first responders and Treasury Secretary Munchin noted that the coronavirus relief package was expected to get the country through the next 8-12 weeks.