- The major Wall Street indices continue to rise on Friday.
- All major sectors of the S&P 500 are operating in positive territory.
- Rising crude oil prices provide a boost to energy stocks.
After posting impressive earnings on Thursday, the main stock indices they opened higher on Friday. At time of writing, the S&P 500 was up 0.45% on the day at 4.457, the Dow Jones Industrial Average was up 0.65% at 35,141, and the Nasdaq Composite Index is gaining 0.3% at 14,864.
All major sectors of the S&P 500 are trading in positive territory, as the CBOE Volatility Index (VIX), Wall Street’s gauge of fear, is shedding 2% to 16.5.
With a barrel of West Texas Intermediate rising nearly 1% and trading above $ 82, the Energy Index is up 1.1% in early trading. Meanwhile, the more than 3% rise seen in the 10-year US Treasury yield is supporting the Financial Index, which was last seen gaining 0.8%.
Hours earlier, data released by the US Census Bureau showed that retail sales rose 0.7% monthly in September. This reading was much better than the market’s expectation of a 0.2% decline and helped the mood stay upbeat ahead of the weekend.
S&P 500 chart (daily)