- Rising crude oil prices push energy shares higher.
- CBOE Volatility Index rises nearly 4% on Thursday.
- US is said to delay December tariff hike.
Wall Street’s main indexes started the day modestly lower on Thursday as investors continue to assess the latest developments surrounding the United States (US)-China trade dispute and wait for fresh headlines coming out of the day four of President Trump impeachment hearings.
As of writing, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite were all down 0.1% on a daily basis.
Although the South China Morning Post (SCMP) earlier in the day reported that the US could delay the December tariff hike even if a deal is not finalized by then, investors seem to be refraining from reacting to every headline. In fact, the CBOE Volatility Index, Wall Street’s fear gauge, is up nearly 4% to reflect the dismal mood.
Among the 11 major S&P 500 sectors, 9 of which are in the negative territory in the early trade, the Energy Index outperforms by adding nearly 1% on the back of rising crude oil prices.