S&P 500 Index notches new record high above 4,000 as tech rally continues

• Major equity indexes started April on a strong footing.
• S&P 500 touched a new all-time high above 4,000 after the opening bell.
• Risk-sensitive tech shares continue to fuel the rally.

On the first day of the second quarter, Wall Street's main indexes opened in the positive territory and the S&P 500 Index notched a new all-time high of 4,002. The sharp decline witnessed in the benchmark 10-year US Treasury bond yield seems to be providing a boost to risk sentiment. Mirroring the upbeat market mood, the CBOE Volatility Index (VIX), Wall Street's fear gauge, is down nearly 6% on Thursday.

As of writing, the S&P 500 was up 0.72% at 4,001, the Dow Jones Industrial Average was rising 0.2% at 33,036 and the Nasdaq Composite was gaining 1.55% at 13,295.

Among the 11 major S&P 500 sectors, the Technology Index and the Communication Services Index both gain more than 1% as the top performers after the opening bell. On the other hand, the defensive sectors, Utilities and Healthcare, stay in the negative territory.

S&P 500 chart (daily)