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  • Wall Street’s main indexes post modest gains on Wednesday.
  • All major S&P 500 sectors trade in the positive territory. 

Major equity indexes in the US opened modestly higher following Tuesday’s decline as risk flows continue to dominate financial markets. As of writing, the Dow Jones Industrial Average was up 0.35% at 30,436, the S&P 500 Index was rising 0.33% at 3,739 and the Nasdaq Composite was advancing 0.36% at 12,895.

On Tuesday, Senate Majority Leader Mitch McConnell blocked Democrats’ attempt to ramp up direct payments under the coronavirus relief bill to $2,000 from $600 but this development doesn’t seem to be weighing on market sentiment.

All major sectors of the S&P 500 trade in the positive territory. The Energy Index is the top performer, up 1.15% supported by rising crude oil prices. On the other hand, the Communication Services Index is gaining only 0.03%. 

S&P 500 chart (daily)