Wall Street opens higher on upbeat earnings figures
- Technology Index leads rally boosted by strong gain in Intel shares.
- CBOE Volatility Index drops on easing worries over coronavirus.
- Energy Index continues to underperform amid falling crude oil prices.
Wall Street's main indexes started the day higher as the easing worries over coronavirus becoming a global health emergency and upbeat earnings figures allowed risk-on flows to return to markets.
As of writing, the Dow Jones Industrial Average was up 0.35% on the day while the S&P 500 and the Nasdaq Composite were adding 0.1% and 0.4% respectively. Reflecting the improving sentiment, the CBOE Volatility Index, Wall Street's fear gauge, is down around 2% on the day.
Tech shares gain traction
Led by a more-than-6% gain in chipmaker giant Intel's shares on upbeat strong quarterly profit figures, the Technology Index is up 0.9% to lead the rally. On the other hand, with the barrel of West Texas Intermediate erasing 2% on Friday, the Energy Index is extending its losing streak and was last erasing 0.77% on the day.