Wall Street opens modestly higher as investors focus on G20
- Rise in US Treasury bond yields support financial shares.
- Defensive stocks trade in the negative territory on Friday.
- Investors wait for US President Trump to meet Chinese President Xi.
Major equity indexes in the U.S. opened the day in the positive territory on Friday but are not looking to make any sharp fluctuations as investors are waiting for the outcome of the critical meeting between U.S. President Trump and Chinese President Xi at the G20 summit in Japan. As of writing, the Dow Jones Industrial Average was up 0.22% on the day while the S&P 500 and the Nasdaq Composite were adding 0.3% and 0.07%, respectively.
Among the 11-major S&P 500 sectors, supported by the ongoing recovery in the Treasury bond yields, the Financials Index is adding 1.65% to lead the gains ahead of the Energy Index, which was last up 0.7%. On the other hand, the so-called defensive indexes, the Real Estate and the Healthcare, are in the negative territory in the early trade.
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.
