Search ForexCrunch

Major equity indexes in the United States started the day in the positive territory on Wednesday supported by improved market sentiment. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 0.5% on the day while the Nasdaq Composite was adding 0.6%. Reflecting the risk-on mood, the CBOE Volatility Index, Wall Street fear gauge, was down nearly 3% on a daily basis.

Among the 11 major S&P 500 sectors, which are all posting gains in the early trade, the energy and the technology were rising 0.75% to lead the rally.  

Upbeat data from the U.S. seem to be helping stocks gain traction today as well. Earlier in the day, the U.S. Census Bureau reported that durable goods orders expanded by 0.4% in January to beat the market expectation of -0.5%. Moreover, construction spending increased by 1.3% in January following December’s 0.8%.