S&P 500 Index opens decisively higher, reclaims 4,400

• Wall Street's main indexes post strong gains on Thursday.
• All major sectors of the S&P 500 trade in the positive territory.
• CBOE Volatility Index is down 4%, reflecting upbeat market mood.

After closing in the positive territory on Wednesday, major equity indexes opened sharply higher on Thursday as risk flows continue to dominate the financial markets. Supported by renewed optimism for a temporary solution to the US debt crisis, the CBOE Volatility Index (VIX) is down 4%.

As of writing, the S&P 500 Index was up 1.11% on the day at 4,412, the Dow Jones Industrial Average was rising 1.08% at 34,785 and the Nasdaq Composite was gaining 1.15% at 14,669.

All major sectors of the S&P 500 trade in the positive territory after the opening bell with the risk-sensitive Technology Index leading the rally by rising more than 1% on a daily basis. On the flip side, the Energy Index is up only 0.5% as crude oil prices continue to consolidate this week's upsurge.

S&P 500 chart (daily)