S&P 500 Settles Higher Ahead Of Fed Decision, Market Volatility Decreases

The S&P 500 settled higher on Monday after UBS AG UBS stepped into buying Credit Suisse Group Inc CS for $3.2 billion.

US-listed shares of Credit Suisse jumped 53%, while UBS Group shares added over 3% on Monday.

The S&P Banking index gained 0.6%, while the KBW Regional Banking index climbed 1.5% on Monday after recording big losses last week.

The Federal Reserve is scheduled to conclude a two-day policy meeting on Wednesday, with markets expecting a 25 basis-point increase.

All the major sectors on the S&P 500 closed on a positive note, with energy and materials stocks recording the biggest gains on Monday.

The Nasdaq 100 gained 0.34% to close at 12,562.61 on Monday, amid gains in shares of Tesla Inc TSLA and Apple Inc AAPL.

The S&P 500 gained 0.89%, while the Dow Jones added 1.20% to 32,244.58 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) dropped 7.1% to 23.71 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.

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