- Consumer discretionary and technology lead gains in early trade.
- Defensive sectors slide on Wednesday.
- Crude oil recovery help energy recover its recent losses.
Boosted by the positive market sentiment and the recovery witnessed in global equity indexes, Wall Street started the day on a positive note on Wednesday. As of writing, the Dow Jones Industrial Average was up 100 points, or 0.41%, the S&P 500 was adding 12 points, or 0.45%,and the Nasdaq Composite was rising 62.16, or 0.95%.
The decisive rebound witnessed in the S&P 500 Technology and Communication Services indexes, which both suffered heavy losses earlier this week, boost the tech-heavy Nasdaq Composite in the first hour following the opening bell. Additionally, after losing more than 7% yesterday, crude oil prices rise more than 2.5% today to lift the S&P 500 Energy Index, which was last seen up 1.15% on the day.
On the other hand, the so-called defensive sectors, real estate and utilities, are staying in the negative territory to reflect the strong appetite for risk ahead of Thanksgiving holiday.
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