Nasdaq Rises Over 2%, Volatility In Markets Decreases

US stocks closed higher on Monday amid surge in technology stocks.

All three major indices extended Friday's gains, with the tech-laden Nasdaq index leading the rally.

The US Federal Reserve is widely expected to increase rates by 25 basis points at its February 1 policy announcement.

As far as the earnings season is concerned, 57 S&P 500 companies have released quarterly results so far, with around 63% of those exceeding market estimates.

Majority of the sectors on the S&P 500 closed on a positive note, with information technology and communication services stocks recording the biggest surge on Monday. However, energy stocks bucked the overall market trend, moving lower during the session.

The Nasdaq 100 jumped 2.18% to close at 11,872.54 on Monday, amid gains in shares of Alphabet Inc. GOOGL and Apple Inc AAPL.

The S&P 500 rose 1.19%, while the Dow Jones added 0.76% to 33,629.56 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) slipped 0.2% to 19.81 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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