S&P 500 Index opens higher following Monday's drop

• Wall Street's main indexes opened in the positive territory.
• Improving market mood helps US stocks recover losses.
• All major sectors of S&P 500 edge higher after opening bell.

After suffering heavy losses on Monday, major equity indexes in the US managed to open higher on Tuesday amid the positive shift witnessed in the market sentiment. As of writing, the S&P 500 was up 0.5% on the day at 4,380, the Dow Jones Industrial Average was rising 0.6% 34,160 and the Nasdaq Composite was gaining 0.53% at 14,791.

Reflecting the improving market mood, the CBOE Volatility Index, Wall Street's fear gauge is down 7% at 23.89.

Among the 11 major sectors, the Consumer Staples Index is rising 1.1% as the top performer after the opening bell. On the other hand, the Industrials Index is up only 0.13%.

Earlier in the day, the data from the US showed that Housing Starts and Building Permits increased by 3.9% and 6%, respectively, in August. Nevertheless, these readings don't seem to be having a noticeable impact on market sentiment.

S&P 500 chart (daily)