S&P 500 Index builds on Monday's gains, opens above 3,400

Wall Street's main indexes opened higher on Tuesday.
Technology shares post decisive gains on risk flows.
S&P 500 Financials Index underperforms in early trade.

Eren Sengezer FXStreet

After posting strong gains on Monday, major equity indexes in the US opened in the positive territory on Tuesday as risk flows continue to dominate the markets. As of writing, the S&P 500 Index was up 1% on the day at 3,415, the Dow Jones Industrial Average was gaining 0.75% at 28,200 and the Nasdaq Composite was rising 1.5% at 11,453.

The upbeat macroeconomic data releases from China and Germany seem to have revived hopes for steady economic recovery in the last quarter of the year. Meanwhile, the NY Fed's Empire State Manufacturing Index rose sharply to 17 in September from 3.7 in August and Industrial Production in the US expanded by 0.4% in August.

The risk-sensitive Technology Index is up 1.56% on the day as the best-performing major sector. On the other hand, the Financials Index is down 0.11% as the only sector trading in the negative territory.

S&P 500 chart (daily)

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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