Wall Street extends recovery on strong earnings figures

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  • Boeing shares jump on Wednesday to lift Industrials Index.
  • Apple’s higher-than-expected Q4 earnings help Technology Index gain traction.
  • Investors will be paying close attention to FOMC’s policy announcements.

Wall Street’s main indexes opened in the positive territory for the second straight day on Wednesday as upbeat earnings figures help investors to ignore concerns over coronavirus. As of writing, the Dow Jones Industrial Average was up 0.55% on the day while the S&P 500 and the Nasdaq Composite were adding 0.4% and 0.5%, respectively.

The CBOE Volatility Index, Wall Street’s fear gauge, is down more than 4% to show that investors are not backing away from risk-taking. 

Industrial and tech shares gain traction

Supported by a more-than-2% increase in Boeing shares, the Industrials Index is up 08% to lead the rally. Additionally, with Apple shares posting strong gains after the company reported stronger-than-expected earnings in the fourth quarter, the Technology Index is adding 0.6%.

On the other hand, defensive sectors, Utilities, Real Estate and Consumer Staples, are in the negative territory in the early trade.

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