- The major Wall Street indices rebound on Tuesday.
- The S&P 500 Tech Sector Index is leading the move higher.
- The CBOE volatility index falls more than 6%.
After suffering heavy losses at the start of the week, the major US stock indices have started up on Tuesdayas risk appetite money flows began to return to financial markets. Reflecting the optimism of the market, the CBOE volatility index (VIX), Wall Street’s fear indicator, falls 6.3% on day.
At time of writing, the S&P 500 Index is up 0.72% on the day at 3,674, the Dow Jones Industrial Average is up 0.6% at 30,043, and the Nasdaq Composite is up 0.78% at 12,558.
Earlier in the day, the US Food and Drug Administration (FDA) announced that they have not identified any specific safety issues with Moderna’s COVID-19 vaccine and noted that an emergency use authorization could arrive on Thursday. This development appears to have helped improve market confidence.
Among the top 11 sectors of the S&P 500, the technology sector index rises 1.12% as the best performing sector after the opening bell. On the other hand, the defensive real estate index is registering small losses.
S&P 500 daily chart
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