S&P 500 opens higher fueled by gains in financial shares, closes in on 3,150

• Major equity indexes in the US opened higher on Tuesday.
• S&P 500 Financials Index gains nearly 2% in early trade. 
• CBOE Volatility Index (VIX) falls more than 4%.

Wall Street's main indexes opened in the positive territory on Tuesday as investors seem to be cheering reopening prospects and easing China trade concerns. Mirroring the risk-on environment, the CBOE Volatility Index (VIX), Wall Street's fear gauge, is down 4.03% on the day at 30.49 points.

Financial stocks lead the rally

As of writing, the S&P 500 was up 0.95% on the day at 3,147 points, the Dow Jones Industrial Average and the Nasdaq Composite were up 1.03% and 0.9%, respectively.

Supported by rising US Treasury bond yields, the rate-sensitive S&P 500 Financials Index is rising 2% in the early trade as the top-performing major sector. Additionally, the Energy and the Materials indexes are both gaining more than 1%.