S&P 500 Index opens modestly higher following Monday's slump

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  • Wall Street’s main indexes are trading in the positive territory on Tuesday.
  • Energy shares post strong gains on rising crude oil prices.
  • Investors await ISM’s Services PMI report for September.

After suffering heavy losses on Monday, major equity indexes in the US managed to open in the positive territory on the back of improving market mood on Tuesday. Reflecting the positive shift in market sentiment, the CBOE Volatility Index is down nearly 3% after the opening bell.

As of writing, the S&P 500 Index was up 0.55% at 4,323, the Dow Jones Industrial Average was rising 0.45% at 34,148 and the Nasdaq Composite was gaining 0.63% at 14,344.

Among the 11 major S&P 500 sectors, the Energy Index is up more than 1% supported by rising crude oil prices. The Financials Index is also gaining as the benchmark 10-year US Treasury bond yield is rising nearly 2%. On the other hand, the defensive Real Estate Index is down 0.75%.

Later in the session, the ISM’s September Services PMI report will be looked upon for fresh impetus.

S&P 500 chart (daily)