S&P 500 Index opens modestly higher following Wednesday's drop

Wall Street's main indexes trade in the positive territory on Thursday.
Technology shares rebound after suffering heavy losses on Wednesday.
CBOE Volatility Index is down nearly 6% after the opening bell.

Eren Sengezer FXStreet

After falling sharply amid heightened inflation fears on Wednesday, major equity indexes in the US managed to open in the positive territory on Thursday. Reflecting the improving market mood, the CBOE Volatility Index, Wall Street's fear gauge, is down nearly 7% on the day.

Bond markets in the US will remain closed due to the Veterans Day holiday and the action in stock markets could remain subdued for the remainder of the day.

As of writing, the S&P 500 Index was up 0.2% at 4,655, the Dow Jones Industrial Average was little changed at 36,015 and the Nasdaq Composite was rising 0.6% at 15,728.

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is up 0.5% following Wednesday's slump. On the other hand, the defensive Real Estate Index is losing 0.3%.

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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