S&P 500 Index opens modestly lower below 3,700

• Wall Street's main indexes trade mixed on Monday.
• Rising tech shares help Nasdaq stay in the positive territory.
• S&P 500 Energy Index is down more than 2%. 

Major equity indexes started the new week on a mixed note amid a lack of significant fundamental drivers. As of writing, the S&P 500 Index was down 0.17% on the day at 3,693, the Dow Jones Industrial Average was falling 0.4% at 30,097 and the Nasdaq Composite was gaining 0.4% at 12,578.

Among the 11 major S&P 500 sectors, the Energy Index is losing 2.5% after the opening bell pressured by a 1% decline in crude oil prices. On the other hand, the Technology Index and the Communication Services Index both rise more than 0.3%, helping the tech-heavy Nasdaq Composite stay in the green.

Later in the day, the US Federal Reserve will release the Consumer Credit Change data for October but this report is unlikely to have a significant impact on market sentiment. At the moment, the CBOE Volatility Index, Wall Street's fear gauge, is up more than 5%, reflecting a cautious mood.

S&P 500 chart (daily)