S&P 500 Index builds on Wednesday's gains, opens above 4,400

• Wall Street's main indexes are trading in the positive territory on Thursday.
• S&P 500 Financials Index is rising more than 1% on surging T-bond yields.

After closing in the positive territory on Wednesday, major equity indexes in the US opened higher on Thursday despite the FOMC's hawkish policy outlook. As of writing, the S&P 500 Index was up 0.55% on the day at 4,420, the Dow Jones Industrial Average was rising 0.87% at 34,555 and the Nasdaq Composite was gaining 0.4% at 14,953.

All major sectors of the S&P 500 trade in the positive territory. Supported by a more-than-4% increase witnessed in the benchmark 10-year US Treasury bond yield, the Financials Index is rising 1.4% as the biggest gainer. Additionally, the Energy Index is up 1.2% supported by rising US crude oil prices.

Later in the session, the IHS Markit's preliminary Services and Manufacturing PMI reports for September will be looked upon for fresh impetus.

S&P 500 chart (daily)