Wall Street opens at fresh all-time highs as risk rally continues

Technology shares rise sharply to lead the rally.
Energy index underperforms as crude oil prices extend slide.
CBOE Volatility Index drops more than 3% on Thursday.

Eren Sengezer FXStreet

Major equity indexes in the United States opened the day at fresh record highs on Thursday as risk-on flows continue to dominate the markets amid easing geopolitical tensions in the Middle East. Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street's fear gauge, is down more than 3% on the day.

As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 0.4% while the Nasdaq Composite was adding 0.7% on a daily basis.

Among the 11-major S&P 500 sectors, the risk-sensitive Technology Index is leading the rally by rising nearly 1% in the early trade. On the other hand, with the barrel of West Texas Intermediate losing nearly 2% and trading below $59, the Energy Index is down 0.9% to limit the S&P 500's upside for the time being.

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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