S&P 500 Index opens decisively higher after last week's slump
by Eren Sengezer- Wall Street's main indexes opened in the positive territory on Monday.
- Technology shares post strong gains to lead the rally.
- Energy shares underperform pressured by falling crude oil prices.
Major equity indexes in the US closed in the negative territory for the second straight time last week but staged a decisive rebound on Monday supported by risk flows. Reflecting the upbeat market mood, the CBOE Volatility Index, Wall Street's fear gauge, is down nearly 3%.
At the moment, the S&P 500 Index is up 1% at 3,373, the Dow Jones Industrial Average is rising 0.7% at 27,848 and the Nasdaq Composite was gaining 1.45% at 11,013.
In the early trade, the S&P 500 Energy Index is the only major sector trading in the negative territory pressure by a 1% decline in crude oil prices. On the other hand, the risk-sensitive Technology Index is up nearly 2% boosted by an 8% gain witnessed in NVIDIA Corp (NVDA: NASDAQ) shares.
S&P 500 chart (daily)
