The S&P 500 closed higher on Monday, while the Dow Jones recorded its longest winning streak in six years.
Investors are awaiting earnings reports from Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) and Meta Platforms (NASDAQ:META) this week.
The Fed is widely projected to increase interest rates by 25 basis points on Wednesday.
Shares of Chevron Corporation (NYSE:CVX) rose around 2% as the company reported strong preliminary quarterly earnings. AMC Entertainment Holdings, Inc. (NYSE:AMC) shares jumped 33% after a court rejected the company’s proposed plan to convert preferred shares to common units and implement a stock split.
Majority of sectors on the S&P 500 closed on a positive note, with energy and financial stocks recording the biggest gains on Monday. However, utilities and health care stocks, bucked the overall market trend, settling lower during the Monday’s session.
The Nasdaq 100 gained 0.14% to close at 15,448.02 on Monday, amid gains in shares of Tesla Inc (NASDAQ:TSLA) and NVIDIA Corp (NASDAQ:NVDA).
The S&P 500 rose 0.40%, while the Dow Jones gained 0.52% to 35,411.24 in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 2.3% to close at 13.91 on Monday.
What is CBOE Volatility Index?
The CBOE Volatility Index, popularly known as VIX, is a measure of the equity market’s expectation of volatility based on S&P 500 index call and put options.
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