US stocks recorded sharp gains on Wednesday, with the Dow Jones gaining more than 500 points after data released Wednesday showed improvement in consumer confidence index.
Stronger-than-expected earnings reports from Nike NKE and FedEx Corp FDX also lifted overall market sentiment.
On Tuesday, the Bank of Japan widened its yield cap on its long-term bonds, which resulted in the yen recording its biggest one-day surge against the US dollar in 24 years.
All the major sectors on the S&P 500 closed on a positive note, with energy and industrials stocks recording the biggest surge on Wednesday.
The Nasdaq 100 jumped 1.48% to close at 11,235.88 on Wednesday, amid gains in shares of Amazon.com, Inc. AMZN and Apple Inc AAPL. The S&P 500 rose 1.49%, while the Dow Jones gained 1.60% to 33,376.48 in the previous session.
The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 6.6% to 20.07 points on Wednesday.
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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