Wall Street opens higher led by strong gains in financial shares

• S&P 500 Financials Index rises more than 3% on Tuesday.
• CBOE Volatility Index is at its lowest level since March 4th.

Major equity indexes in the US opened higher for the second straight on Tuesday as upbeat earnings figures allowed risk flows to continue to dominate the markets.

Financial shares lead the rally

As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 1.3% on the day while the Nasdaq Composite was rising 0.5%. In the meantime, the CBOE Volatility Index, Wall Street's fear gauge, is down 5.12% on a daily basis at 31.5, the lowest level since March 4th.

Among the 11 major S&P 500 sectors, the Financials Index is up 3.22% as the top-performer ahead of the Industrials Index, which was last seen rising 2.9%. Moreover, the Energy Index is up 2.5% supported by a more-than-3% rebound witnessed in crude oil prices. The Healthcare Index is the only sector in the negative territory in the early trade.