- Technology shares rise sharply to lead the rally.
- Energy index underperforms as crude oil prices extend slide.
- CBOE Volatility Index drops more than 3% on Thursday.
Major equity indexes in the United States opened the day at fresh record highs on Thursday as risk-on flows continue to dominate the markets amid easing geopolitical tensions in the Middle East. Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street’s fear gauge, is down more than 3% on the day.
As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 0.4% while the Nasdaq Composite was adding 0.7% on a daily basis.
Among the 11-major S&P 500 sectors, the risk-sensitive Technology Index is leading the rally by rising nearly 1% in the early trade. On the other hand, with the barrel of West Texas Intermediate losing nearly 2% and trading below $59, the Energy Index is down 0.9% to limit the S&P 500’s upside for the time being.
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