Volatility In Markets Increases Following Report Of Poland Missile Attack

US stocks closed higher on Tuesday, as investors assesses recent inflation data.

Wall Street was boosted by inflation report which showed producer prices increasing 8% year-over-year in October, compared to market expectations for a 8.3% rise.

Investors also digested reports suggesting Russian missiles have crossed into Poland, killing two.

Shares of Walmart Inc WMT gained 6.5% on Tuesday after the retailer increased its annual sales and profit projections.

The Nasdaq 100 jumped 1.45% to close at 11,871.15 on Tuesday, amid gains in shares of Apple Inc. AAPL and Meta Platforms, Inc. META. The S&P 500 gained 0.87%, while the Dow Jones gained around 56 points to settle at 33,592.92 in the previous session.

Majority of the sectors on the S&P 500 closed on a higher note, with communication services and consumer discretionary stocks recording the biggest surge on Tuesday. However, materials and health care stocks edged lower in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) gained 3.4% to 24.54 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.