Market Movement: Tech Titans Tumble as Energy Stocks Surge

Wall Street's indexes opened the year-end week with declines, dragged down by major technology stocks. Despite gains in energy stocks, markets experienced a pullback after record highs, with the Dow and S&P 500 headed for eighth consecutive monthly gains. Limited data this week may influence trading activities.

Wall Street's indices began the final week of the year with a downturn, as leading technology stocks retreated from their recent highs. This decline pressured the S&P 500, as companies like Nvidia, Broadcom, and Palantir Technologies faced losses.

Despite this, experts like Hank Smith of Haverford Trust suggest these declines may present buying opportunities due to the robust growth and valuation of top tech names. Energy stocks, conversely, rose amid increasing oil prices, while the Dow Jones, S&P 500, and Nasdaq all saw decreases.

Holiday trading and limited economic data could affect market dynamics. Investors are also watching for a 'Santa Claus rally,' with major indexes on track for gains despite concerns over tech valuations and market volatility.

(With inputs from agencies.)