Wall Street starts week sharply higher boosted by risk-on flows

• CBOE Volatility Index erases nearly 5% on Monday.
• All major S&P 500 sectors trade in positive territory. 

As signalled by the upbeat performance of major Asian and European equity indexes, Wall Street's main indexes started the week on a strong footing boosted by the upbeat market mood. At the moment, the CBOE Volatility Index, Wall Street's fear gauge, is down nearly 5% to reflect the risk-on market environment.

As of writing, the Dow Jones Industrial Average and the S&P 500 were both up 3.7% on the day while the Nasdaq Composite was adding 3.6%.

All major sectors of the S&P 500 are trading in the positive territory with the Materials Index and the Industrial Index leading the charge with daily gains of more than 5%. On the other hand, the Energy ındex and the Consumer Staples Index are both around 1.3% as the underperformers.