Wall Street opens higher led by sharp gains in energy shares

  • 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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD pressured around 1.1200 amid dovish ECB comments

EUR/USD is trading around 1.1200 after ECB officials expressed concern about global growth President Draghi will speak later. Tension is rising toward the Fed decision after US retail sales surprised on Friday.


GBP/USD pressured below 1.2600, Conservative contest in focus

GBP/USD is trading below 1.2600, consolidating the losses seen on Friday after US retail sales beat expectations. The Conservative contest is heating up ahead of tomorrow's second vote.


USD/JPY: wait-and-see continues ahead of Fed

The dollar consolidates its gains against most rival, and scarce data exacerbates the quietness. USD/JPY bullish above 108.90, bearish below 108.10.


Gold: 100-month MA is a level to beat for the bulls

Gold (XAU/USD) is struggling to cut through key technical line which proved a tough nut to crack in 2018. The yellow metal rose to $1,358 on Friday, but the break above the 100-month MA.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more