Wall Street opens higher led by strong gains in financials
|- Risk appetite remains strong on renewed trade optimism.
- Rising US T-bond yields provide a boost to financial shares.
- Defensive sectors stay in the negative territory in the early trade.
Major equity indexes in the United States started the day in the positive territory on Monday on the back of the upbeat market sentiment. As of writing, the Dow Jones Industrial Average was up 0.2% on the day while the S&P 500 and the Nasdaq Composite were adding 0.45% and 0.65%, respectively.
Earlier in the day, White House economic adviser Larry Kudlow told Fox Business Network that they could cancel the December tariffs if trade talks were to continue to go well with China. Moreover, heightened hopes of the UK parliament approving the Brexit deal seems to be helping risk-on flows continue to dominate the market.
Rising US Treasury bond yields provided a boost to the S&P 500 Financials Index on Monday, which was last up more than 1% on the day to lead the winners. On the other hand, the so-called defensive sectors, Utilities, Real Estate, and Consumer Staples, were posting modest losses to confirm the upbeat market mood.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.