Wall Street starts week sharply higher boosted by risk-on flows
|- CBOE Volatility Index erases nearly 5% on Monday.
- All major S&P 500 sectors trade in positive territory.
As signalled by the upbeat performance of major Asian and European equity indexes, Wall Street's main indexes started the week on a strong footing boosted by the upbeat market mood.
Risk rally
The CBOE Volatility Index, Wall Street's fear gauge, is down nearly 5% to reflect the risk-on market environment. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 3.7% on the day while the Nasdaq Composite was adding 3.6%.
All major sectors of the S&P 500 are trading in the positive territory with the Materials Index and the Industrial Index leading the charge with daily gains of more than 5%. On the other hand, the Energy ındex and the Consumer Staples Index are both around 1.3% as the underperformers.
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