S&P 500 opens in the positive territory, hits new all-time high at 3,950
- Wall Street's main indexes opened higher on Tuesday.
- Energy and financial shares post impressive gains after the opening bell.
Major equity indexes in the US opened in the positive territory following the long weekend and notched new all-time highs. As of writing, the Dow Jones Industrial Average was up 0.28% on the day at 31,548, the S&P 500 was gaining 0.3% at 3,947 and the Nasdaq Composite was rising 0.4% at 13,860.
The sharp upsurge witnessed in the US Treasury bond yields is providing a boost to rate-sensitive financial stocks on Tuesday. At the moment, the 10-year US T-bond yield is rising 4.15% on the day and the S&P 500 Financials Index is up 1.25%.
Additionally, the S&P 500 Energy Index is surging 2.8% fueled by rising crude oil prices. The barrel of West Texas Intermediate (WTI) is up nearly 1% since the start of the week and trading above $60.
On the other hand, the defensive sectors, Utilities, Real Estate and Healthcare, stay in the negative territory in the early trade.
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.
