S&P 500 Index builds on Wednesday's gains, opens above 4,400

Wall Street's main indexes are trading in the positive territory on Thursday.
S&P 500 Financials Index is rising more than 1% on surging T-bond yields.

Eren Sengezer FXStreet

After closing in the positive territory on Wednesday, major equity indexes in the US opened higher on Thursday despite the FOMC's hawkish policy outlook. As of writing, the S&P 500 Index was up 0.55% on the day at 4,420, the Dow Jones Industrial Average was rising 0.87% at 34,555 and the Nasdaq Composite was gaining 0.4% at 14,953.

All major sectors of the S&P 500 trade in the positive territory. Supported by a more-than-4% increase witnessed in the benchmark 10-year US Treasury bond yield, the Financials Index is rising 1.4% as the biggest gainer. Additionally, the Energy Index is up 1.2% supported by rising US crude oil prices.

Later in the session, the IHS Markit's preliminary Services and Manufacturing PMI reports for September will be looked upon for fresh impetus.

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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