Home S&P 500 Index opens decisively higher after last week’s slump
FXStreet News

S&P 500 Index opens decisively higher after last week’s slump

  • Wall Street’s main indexes opened in the positive territory on Monday.
  • Technology shares post strong gains to lead the rally.
  • Energy shares underperform pressured by falling crude oil prices.

Major equity indexes in the US closed in the negative territory for the second straight time last week but staged a decisive rebound on Monday supported by risk flows. Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street’s fear gauge, is down nearly 3%.

At the moment, the S&P 500 Index is up 1% at 3,373, the Dow Jones Industrial Average is rising 0.7% at 27,848 and the Nasdaq Composite was gaining 1.45% at 11,013.

In the early trade, the S&P 500 Energy Index is the only major sector trading in the negative territory pressure by a 1% decline in crude oil prices. On the other hand, the risk-sensitive Technology Index is up nearly 2% boosted by an 8% gain witnessed in NVIDIA Corp (NVDA: NASDAQ) shares.

S&P 500 chart (daily)

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.