US Stocks End Sharply Higher, Market Volatility Increases

US stocks closed sharply higher on Wednesday, with the S&P 500 and Nasdaq adding over 1% each.

Data on US consumer prices will be released today, with analysts expecting US consumer prices increasing 6.5% year-over-year in December, compared to 7.1% rise in the prior month.

All the major sectors on the S&P 500 closed on a positive note, with real estate and consumer discretionary stocks recording the biggest surge on Wednesday.

Bed Bath & Beyond Inc BBBY shares jumped around 69% on Wednesday after adding more than 27% in the prior session. The company reported a quarterly adjusted net loss of $3.65 per share, which missed estimates for a loss of $2.11 per share.

The Nasdaq 100 rose 1.76% to close at 11,402.52 on Wednesday, amid gains in shares of Apple Inc AAPL and Amazon.com, Inc. AMZN.

The S&P 500 rose 1.28%, while the Dow Jones gained 0.80% to 33,973.01 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) rose 4.8% to 21.56 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.

Read Next: Taiwan Semiconductor, Disney And 3 Stocks To Watch Heading Into Thursday