S&P 500 retreated from the record due to falling oil prices

The S&P 500 index declined moderately on Monday, as the drop in oil prices weighed on the quotes of energy companies. However, the benchmark remained close to record levels rise in the financial sector following the yield on US government bonds.

The energy sector was the leader of the decline among 11 industry sub-indices in the S&P, falling 1.48%. The rise in coronavirus infections and the likelihood of new restrictive measures, especially in China, have fueled concerns about global fuel demand and led to a drop in oil prices.

Meanwhile, the financial sector rallied as the yield on 10-year US government bonds again surpassed 1.3% and peaked since July 16 following another vital labor market data.

According to Labor Department figures released the day before, the number of job openings in the United States jumped 590,000 in June and surpassed 10 million for the first time.

This week, market participants will focus on inflation statistics, which will on Wednesday.

The Dow Jones closed 0.3% lower to 35,101.85 points, the S&P 500 dropped 0.09% to 4,432.35 points, while the Nasdaq climbed 0.16% to 14,860,177 points …

The indices are close to all-time highs thanks to a solid quarterly reporting season. As the end of last week, 443 companies from the S&P 500 have already reported quarter, and 87.4% of them exceeded forecasts for profit.

Sanderson Farms Inc rose 7.41% after agreeing to buy offers from trader Cargill Inc and investment firm Continental Grain Co. They valued the company at $ 4.53 billion.

Tyson Foods Inc jumped 8.69% after the food maker improved its revenue forecast.