Similar to Tuesday’s opening, major equity indexes in the U.S. started the day higher on Wednesday boosted by strong gains seen in energy and financial shares. As of writing, the Dow Jones Industrial Average was up 0.6% on the day while the S&P 500 and the Nasdaq Composite were both adding around 0.5%.
The 10-year T-bond yield preserved its bullish momentum for the third straight today and is now rising more than 1% to support the rate-sensitive S&P 500 Financials Index, which is up 1% at the moment. Additionally, crude oil is posting gains for the second straight day with the barrel of West Texas Intermediate trading 1.3% higher near $54 ahead of the weekly EIA report and helping the S&P 500 Energy Index outperform other major S&P 500 sectors.
On the other hand, the only two sectors that are in the negative territory in the early trade are real estate and utilities, which usually come under pressure when the risk appetite is high.
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