The S&P 500 closed sharply higher on Monday, as investors awaited inflation data.
The US is scheduled to inflation report today, with analysts expecting annual inflation rate declining to 6.2% in January from 6.5% in the previous month
Facebook parent company Meta Platforms Inc (NASDAQ:META) is preparing for a fresh round of job cuts, and it has delayed finalizing the budgets of multiple teams, according to the Financial Times.
Majority of the sectors on the S&P 500 closed on a positive note, with information technology and consumer discretionary stocks recording the biggest gains on Monday. However, energy stocks bucked the market trend, falling 0.6% during the session.
The Nasdaq 100 climbed 1.60% to close at 12,502.31 on Monday, amid gains in shares of Microsoft Corp (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN).
The S&P 500 gained 1.14%, while the Dow Jones rose 1.11% to 34,245.93 in the previous session. The S&P 500 has added around 8% so far this year.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 0.9% to 20.34 points 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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