S&P 500 Index opens in green above 3,300, all major sectors post gains

  • Major equity indexes in the US opened in the positive territory on Wednesday.
  • CBOE Volatility Index drops to reflect upbeat market mood.
  • All major sectors of S&P 500 post gains in early trade.

Wall Street's main indexes opened in the positive territory for the fourth straight trading day on Wednesday as risk-on flows continue to dominate financial markets. As of writing, the S&P 500 was up 0.4% on the day at 3,320, the Dow Jones Industrial Average was gaining 0.73% at 27,026 and the Nasdaq Composite was rising 0.15% at 10,956.

Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street's fear gauge, is down 2% on the day. Earlier in the day Johnson & Johnson announced that it reached a $1 billion deal with the US government to manufacture 100 million doses of its coronavirus vaccine if it proves successful and provided a boost to sentiment.

Meanwhile, the monthly data published by the ADP revealed that the US' private sector only added 167K jobs in July. However, June's print got revised from 2.3 million up to 4.3 million.

At the moment, all 11-major sectors of the S&P 500 trade in the positive territory with the Industrials, Materials, Energy and Financials indexes all gaining more than 1%.

S&P 500 chart (daily)

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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD holds above 1.17, shrugging off upbeat US consumer confidence

EUR/USD is trading above 1.17, holding its gains despite upbeat US data. The CB Consumer Confidence jumped to 101.8 points, beating estimates. Fed speakers are awaited and the presidential debate is eyed.


GBP/USD retreats from highs amid Brexit, coronavirus uncertainty

GBP/USD is retreating from the highs close to 1.29 as concerns about Brexit talks and rising UK coronavirus cases are taking their toll on the pound. 


XAU/USD holds steady near multi-day tops, around $1890 region

Gold built on the previous day's goodish bounce from 100-day SMA and edged higher through the first half of the trading action on Tuesday. The overnight sustained move beyond 100-hour SMA was seen as a key trigger for bullish traders and pushed the commodity to multi-day tops.

Gold News

Presidential Debate Preview: Trump may lose due to his own buildup, market implications

The first presidential debate is set to shake up the elections campaign.  President Trump's playing down of challenger Biden's skills may turn into a double-edged sword. Markets will move on implications for a new fiscal relief package. 

Read more

WTI drops to fresh lows near $39.70 ahead of API

Prices of the American benchmark for the sweet light crude oil broke below the $40.00 mark per barrel and slipped back to the $39.70 region on Tuesday.

Oil News