- Three main indexes of Wall Street gain more than 1% on Wednesday.
- All major sectors in S&P 500 trade in positive territory.
- Energy Index rises more than 2% as the top-performer.
Major equity indexes in the United States opened the day decisively higher after trading mixed on Tuesday. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 1.2% on the day while the Nasdaq Composite was gaining 1.43%.
Energy shares gain traction on rising oil prices
Mirroring the risk-on market atmosphere, the CBOE Volatility Index, Wall Street’s fear gauge, is down more than 6% on Wednesday.
Supported by a 3% daily increase in crude oil prices, the S&P 500 Energy Index is up 2% in the early trade as the top-performing S&P 500 major sector. Meanwhile, the Financials Index and the Materials Index are both rising 1.9% to fuel the rally.
There won’t be any significant macroeconomic data releases from the US in the remainder of the day and investors will be waiting for the FOMC to release its April meeting minutes at 1800 GMT.
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