Following Monday’s decisive rally, major equity indexes in the U.S. started the day in the positive territory on Tuesday as the upbeat market sentiment allowed investors to stay focused on high-yielding assets such as stocks. As of writing, the Dow Jones Industrial Average was up 0.45% on the day while the S&P 500 and the Nasdaq Composite were adding 0.6% and 0.95%, respectively.
Earlier today, the data from the U.S. showed that the NFIB Business Optimism Index in May rose to 105 from 103.5 in April and the PPI on a yearly basis edged down to 1.8% while the core PPI ticked down to 2.3% to match analysts’ estimates.
Among the 11 major S&P 500 sectors, the so-called defensive Utilities Index is the only sector in the negative territory in the early trade while the Consumer Discretionary and the Energy indexes are both up more than 1% to lead the rally.
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