US Stocks Settle Mixed Amid Debt Ceiling Talks; Market Volatility Increases

The S&P 500 settled almost flat on Monday amid the ongoing debt ceiling talks.

House Speaker Kevin McCarthy announced Monday night at a press conference that the meeting today with President Joe Biden about the national debt ceiling was productive, though no agreement was reached.

Micron Technology, Inc MU shares traded lower on Monday after China banned some of its product sales after a seven-week investigation into Micron.

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

The Nasdaq 100 rose 0.34% to close at 13,849.74 on Monday, amid gains in shares of Tesla Inc TSLA and Microsoft Corp MSFT.

The S&P 500 rose 0.02%, while the Dow Jones fell 0.42% to 33,286.58 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) gained 2.4% to close at 17.21 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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