Wall Street opens higher boosted by upbeat earnings figures
- 16th May 2019
- Posted by: Hakeem
- Categories: FOREX MARKET ANALYSIS, FUNDAMENTAL ANALYSIS, TECHNICAL ANALYSIS
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.