- Financial stocks are leading the rally in the S&P 500 on Tuesday.
- Risk flows continue to dominate financial markets.
After falling to its lowest level since the end of July at 4,278 and losing 1.3% on Monday, the S&P 500 Index (SPX) It opened in positive territory on Tuesday and continued to gain bullish momentum. At time of writing, the SPX was up 1.5% on the day at 4,365.
Improving market sentiment appears to be giving US equities a boost. Reflecting the positive shift in risk sentiment, the CBOE Volatility Index (VIX), Wall Street’s fear gauge, is down 8.15% to 21.09.
Meanwhile, the only major sector of the S&P 500 trading in negative territory is the defensive real estate index, which was last seen falling 0.55%. On the other hand, the financial index is the top earner, driven by an increase of more than 3% seen in the benchmark yield on 10-year US Treasuries.
Among individual stocks, shares of ABIOMED Inc (ABMD: NASDAQ) and Invesco Ltd (IVZ: NYSE) have risen more than 5% as the best performers so far. On the other hand, Sales Inc (VTR: NYSE) is down 3.2% to $ 54.50 as the biggest decline.
S&P 500 chart (daily)
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