US open: Energy stocks weigh on Dow Jones, early tech gains boost Nasdaq

Major indices were mixed early on Monday amid renewed hopes for the passing of Joe Biden's $1.0trn bipartisan infrastructure deal, a strong start to the session for tech stocks and early losses for some big-name energy firms.

As of 1545 BST, the Dow Jones Industrial Average was down 0.46% at 34,273.95, while the S&P 500 ticked up just 0.01% to 4,280.96 and the Nasdaq Composite came out the gate 0.72% firmer at 14,463.28.

The Dow Jones opened 159.89 points lower on Monday, taking a bite out of gains recorded on Friday, while the S&P 500 managed to ever so slightly extend upon the record high it notched up in the previous session.

In focus at the bell on Monday was news that Joe Biden's huge, bipartisan infrastructure deal appeared to have been revitalised on Sunday after the President clarified that he had no intention of vetoing the legislation if it came without a separate reconciliation bill including funding for issues like climate change, child care, health care and education, as favoured by Democrats, leading Republican senators to then agree to push the deal through.

CMC Markets' Michael Hewson said: "While European markets are sliding, US markets continue to look resilient with the Nasdaq and S&p500 both hitting new record highs, while the Dow has slipped back. There appears to be increasing optimism that some form of infrastructure deal can be done on a cross-party basis, after Republican senators indicated the deal could move forward."

On the macro front, the Dallas Fed's manufacturing index came in at 31.1 in June, short of an expected print of 32.5 and down from the previous month's reading of 34.9.

Elsewhere, Federal Reserve presidents John Williams and Randal Quarles will both deliver speeches throughout the course of the day.

In the corporate space, Apple, Amazon and Salesforce all traded higher early in the session, while Boeing shares fell around 2% after regulators warned the company that it was unlikely to receive certification for its long-range aircraft until at least 2023.

Chevron and Exxon Mobil shares were also weighing on the Dow, down 3.04% and 2.75%, respectively.