S&P 500 opens higher fueled by rising energy stocks

Wall Street's main indexes opened higher on Friday.
All major sectors of the S&P 500 trade in the positive territory.
CBOE Volatility Index is down around 3.5% after opening bell.

Eren Sengezer FXStreet

Major equity indexes in the US opened higher on Friday and erased the majority of Thursday's losses. Reflecting the upbeat market mood, the CBOE Volatility Index (VIX), Wall Street's fear gauge, is down 3.5% after the opening bell.

As of writing, the S&P 500 was up 0.8% on the day at 3,565, the Dow Jones Industrial Average was gaining 0.83% at 29,322 and the Nasdaq Composite was rising 0.76% at 11,915.

All 11 major sectors of the S&P 500 trade in the positive territory with the Energy Index leading the rally with a daily gain of 1.55%. Additionally, the Materials Index and the Industrials Index both rise more than 1%. On the other hand, the Healthcare Index and the Consumer Staples Index are underperformers on Friday, up 0.15% and 0.35% respectively.

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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