Wall Street opens higher boosted by upbeat earnings figures

Eren Sengezer FXStreet

Major equity indexes in the U.S. started the day in the positive territory on Thursday boosted by upbeat earnings figures. As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 0.5% on a daily basis while the Nasdaq Composite was adding 0.45%. The CBOE Volatility Index, Wall Street's fear gauge, is up 2.5% on the day to reflect the slightly improves market sentiment.

Boosted by the higher-than-expected revenue and profit figures reported by the retail giant Walmart, the Consumer Discretionary Index gained traction and was up more than 1% in the early trade. Additionally, the sharp rebound seen in the 10-year T-bond yield is fueling the rate-sensitive Financials Index, which was last up 1.15% on the day. None of the 11-major S&P 500 sectors was in the negative territory at the time of press.

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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