All 11 sectors of the S&P 500 index are in positive territory, as energy sector surges
The S&P 500 index was rebounding in early Wednesday trade, with all 11 sectors of the index’s sectors firmly higher, led by a pop in the energy sector as crude-oil prices extended a recent uptrend. The S&P 500 index was up 0.7% at 2,741, with the energy-sector rising by about 2%. The exchange-traded Energy Select Sector SPDR ETF , which reflects the performance of large oil-and-gas names, including Exxon Mobil Cop. and Chevron Corp. rose by 2.1%. Oil shares have climbed as crude oil has enjoyed a boost after the Trump administration said it would sanction countries that don’t cut their imports of Iranian oil to zero. Washington last month pulled the U.S. out of an international agreement to halt Tehran’s nuclear program. Markets, which have been buffeted by concerns over trade, also rose following the White House’s announcement early Wednesday that suggested the U.S. would adopt a less-aggressive stance than expected on restricting Chinese investments in U.S. technology companies. Elevated tensions between Washington and Beijing have created jitters across global markets, with investors fearing that a tit-for-tat tariff battle could devolve into a full-scale trade conflict. Meanwhile, the Dow Jones Industrial Average was up more than 200 points, while the tech-heavy Nasdaq Composite Index was 0.5% higher.
Source : MTV
