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Wall Street opens modestly higher boosted by financials

Major equity indexes in the U.S. started the day modestly higher supported by the financial sector. As of writing, the Dow Jones Industrial Average was up 0.42% on the day while the S&P 500 and the Nasdaq Composite were adding 0.32% and 0.36%, respectively.

Strong earnings reports from Goldman Sach and Bank of American earlier in the day boosted the market sentiment on Wednesday and the S&P 500 Financials Index were up more than 1% in the early trade to lead the gains. Out of 11 major S&P 500 sectors, only the utilities and consumer staples sectors are in the negative territory. Among winners, materials and industrials both rise around 0.5% to trail financials.

Later in the session, the Fed will be publishing its Beige Book, which paints a clear picture of the overall health of the economy. Investors will also be paying close attention to the no confidence vote in the UK.

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