S&P 500 Index opens modestly higher following Monday's rally

• Wall Street's main indexes opened near Monday's closing levels.
• Energy stocks push higher as oil rebound continues.
• Defensive sectors remain on the back foot after the opening bell.

Following Monday's record-setting rally, major equity indexes in the US started the day little changed on Tuesday. As of writing, the S&P 500 Index was up 0.1% on the day at 4,484, the Dow Jones Industrial Average was rising 0.13% 35,387 and the Nasdaq Composite was gaining 0.3% at 14,986.

For the second straight day, the Energy Index is the S&P 500's best-performing major sector after the opening bell, rising more than 1% on a daily basis on the back of rising crude oil prices. The barrel of West Texas Intermediate (WTI), which rose nearly 6% on Monday, is currently up 2% at $66.85.

On the other hand, the defensive Utilities and the Real Estate indexes are losing 0.8% and 0.5%, respectively. Later in the session, July New Home Sales data will be looked upon for fresh impetus.

S&P 500 chart (daily)