S&P 500 Edges Higher Ahead Of Earnings, Economic Data; Market Volatility Rises

The S&P 500 closed slightly higher on Monday as investors are awaiting major earnings reports and economic data, due this week.

Some big names, including, Microsoft Corporation MSFT, Alphabet Inc. GOOGL, Meta Platforms Inc META and Amazon.com, Inc. AMZN are scheduled to release earnings reports this week.

On the economic data front, data on industrial output, GDP and Personal Consumption Expenditures, will be released this week.

Whirlpool Corporation WHR reported upbeat Q1 results, while First Republic Bank FRC reported a decline in deposits for the quarter and said it will cut its workforce by 20-25%.

Major sectors on the S&P 500 closed on a mixed note, with energy and materials stocks recording the biggest gains on Monday. However, information technology and real estate stocks closed lower during the session.

The Nasdaq 100 fell 0.24% to close at 12,969.76 on Monday, amid losses in shares of Tesla Inc TSLA and Microsoft Corp MSFT.

The S&P 500 rose 0.09%, while the Dow Jones added 0.20% to 33,875.40 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) rose 0.7% to close at 16.89 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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