- Energy shares lead US major equity indexes to notable gains in the early US session.
- WTI oil barrels rise above $53 and trigger big gains in the S&P500 Energy Index.
Major equity indexes in the U.S. started the day in the positive territory on Thursday supported by decisive gains witnessed in energy shares. As of writing, the Dow Jones Industrial Average was up 0.35% on the day while the Nasdaq Composite and the S&P 500 were adding 0.75% and 0.45%, respectively.
Following the reports oil tanker attacks in the Gulf of Oman earlier today, crude oil prices gained traction with the barrel of West Texas Intermediate rising above the $53 handle with a daily gain of nearly 4%. Boosted by surging oil prices, the S&P 500 Energy Index rose sharply in the early trade and was last up 1.23% on the day to lead the gains.
On the other hand, the Healthcare Index and the Consumer Staples Index are both losing around 0.25% to limit the upside for the time being.
Earlier today, the data published by the U.S. Bureau of Labor Statistics showed that import and exports prices declined in April but was largely dismissed by the investors.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.