S&P 500 Index opens higher supported by rising energy stocks

• Wall Street's main indexes trade in the positive territory on Wednesday.
• Energy stocks post impressive gains on the back of rising crude oil prices.
• Defensive sectors remain on the back foot after the opening bell.

Major equity indexes in the US opened higher on Wednesday amid a modest improvement in risk sentiment. As of writing, the Dow Jones Industrial Average was up 0.55% on the day at 32,606, the S&P 500 Index was gaining 0.47% at 3,928 and the Nasdaq Composite was rising 0.2% at 13,040.

Among the 11 major S&P 500 sectors, the Energy Index is up 2.5% on a daily basis supported by a 3.85% increase seen in crude oil prices. Additionally, the Financials Index is rising 1.25% as the benchmark 10-year US T-bond yield is rising 1% following a two-day downward correction.

On the other hand, the defensive sectors, Utilities and Real Estate indexes, both trade in the negative territory following the opening bell.

S&P 500 chart (daily)