- 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.