The S&P 500 closed slightly higher on Monday as investors are awaiting major earnings reports and economic data, due this week.
Some big names, including, Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), Meta Platforms Inc (NASDAQ:META) and Amazon.com, Inc. (NASDAQ:AMZN) are scheduled to release earnings reports this week.
On the economic data front, data on industrial output, GDP and Personal Consumption Expenditures, will be released this week.
Whirlpool Corporation (NYSE:WHR) reported upbeat Q1 results, while First Republic Bank (NYSE:FRC) reported a decline in deposits for the quarter and said it will cut its workforce by 20-25%.
Major sectors on the S&P 500 closed on a mixed note, with energy and materials stocks recording the biggest gains on Monday. However, information technology and real estate stocks closed lower during the session.
The Nasdaq 100 fell 0.24% to close at 12,969.76 on Monday, amid losses in shares of Tesla Inc (NASDAQ:TSLA) and Microsoft Corp (NASDAQ:MSFT).
The S&P 500 rose 0.09%, while the Dow Jones added 0.20% to 33,875.40 in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 0.7% to close at 16.89 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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