S&P 500 Snaps 9-Day RallyThe S&P 500 fell 0.7% on Monday, ending its nine-day winning streak as weakness in energy stocks and caution ahead of key trade and Fed updates weighed on sentiment. The Dow Jones dipped 98 points (-0.2%) while the Nasdaq lost 0.7%.
? Energy Stocks Drag Markets Lower
Energy majors Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX) declined after OPEC+ announced plans to increase oil output starting in June. The news pressured crude prices, with Brent futures falling 1.9% to $60.14.
Market Impact: The Energy sector saw one of the steepest losses of the session.
Production Outlook: OPEC+’s decision signals easing supply restrictions, which could limit further price gains in the near term.
Track daily energy price movements using the Commodities API.
?? Trade Deal Watch: Trump Teases Potential Announcements
Market caution intensified after former President Donald Trump said trade agreements “could very well be” revealed this week. Tensions between the U.S. and China remain high, especially after China’s reaction to proposed 145% U.S. tariffs with 125% retaliatory duties.
Investor Focus: Global trade stability and its impact on inflation and growth.
Risk Sentiment: Any progress on deals could boost risk-on trades ahead of the Fed’s policy meeting.
? Stock-Specific Movers
Berkshire Hathaway (NYSE: BRKb) fell 5% after Q1 operating earnings dropped 14% YoY to $9.64 billion, hurt by wildfire-related insurance losses.Skechers (NYSE: SKX) surged over 24% following news of a $63/share privatization deal by 3G Capital, fueling M&A speculation.Tyson Foods (NYSE: TSN) declined nearly 8% after disappointing revenue as meat inflation curbed demand among cost-conscious consumers.
For updated analyst sentiment on these companies, check the Up/Down Grades by Company API.
With the Fed decision and possible trade deal developments looming, market volatility may remain elevated in the coming days. Traders will likely continue rotating sectors based on macro signals and earnings surprises.
