U.S. stocks settled sharply higher on Thursday, after an earlier sell-off earlier in the session.
Traders digested the consumer prices index, which showed the annual inflation rate in the US easing for the third straight month to 8.2% in September, the lowest in seven months, down from 8.3% in the previous month. However, analysts were expecting a reading of 8.1%.
US big banks, including, JPMorgan Chase & Co. JPM, Morgan Stanley MS, Wells Fargo & Company WFC, and Citigroup Inc. C, are all set to release earnings today.
The Nasdaq 100 jumped 2.30% to close at 11,033.58 on Thursday amid a decline in Apple Inc AAPL and Microsoft Corporation MSFT shares, while the S&P 500 rose 2.6%. The Dow Jones jumped around 828 points to settle at 30,038.72 in the previous session.
All the major sectors on the S&P 500 closed on a higher note, with financials and energy stocks recording the biggest surge on Thursday.
The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 4.7% to 31.99 points.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.