U.S. equities and stock exchange traded funds were relatively flat Monday as energy sector weakness and ongoing unease over tensions between the U.S. and North Korea keep pressure on markets.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEARCA: SPY), iShares Core S&P 500 ETF (NYSEARCA: IVV) and Vanguard 500 Index (NYSEARCA: VOO), were 0.1% higher Monday.
Energy companies in the S&P 500 were among the worst performers Monday, falling 0.7%.
As the earnings season winds down and no major announcements slated for the economic calendar, some market observers anticipate muted conditions ahead, especially given the lofty valuations and steady economic growth.
“People are just standing back a little bit and saying let’s wait and see what happens here,” Paul Flood, portfolio manager at Newton Investment Management, the Wall Street Journal reports.