S&P 500 Index opens modestly higher following Wednesday's drop

• Wall Street's main indexes trade in the positive territory on Thursday.
• Technology shares rebound after suffering heavy losses on Wednesday.
• CBOE Volatility Index is down nearly 6% after the opening bell.

After falling sharply amid heightened inflation fears on Wednesday, major equity indexes in the US managed to open in the positive territory on Thursday. Reflecting the improving market mood, the CBOE Volatility Index, Wall Street's fear gauge, is down nearly 7% on the day.

Bond markets in the US will remain closed due to the Veterans Day holiday and the action in stock markets could remain subdued for the remainder of the day.

Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is up 0.5% following Wednesday's slump. On the other hand, the defensive Real Estate Index is losing 0.3%.

S&P 500 chart (daily)