Market Volatility Drops Ahead Of Inflation Data; S&P 500 Settles Slightly Higher

The S&P 500 settled higher on Monday, as investors are awaiting inflation report and the Fed’s policy meeting next week.

Traders are now seeing around 80% chance that the Federal Reserve will maintain interest rates at its upcoming meeting.

Apple Inc AAPL shares fell around 0.2% on Tuesday. The company recently unveiled a wave of innovative products and features within its universe. THOR Industries, Inc. THO shares jumped over 17% after the company reported better-than-expected third-quarter results and raised its FY23 EPS guidance.

Majority of the sectors on the S&P 500 closed on a positive note, with financial and consumer discretionary stocks recording the biggest gains on Tuesday. However, health care and consumer staples stocks closed lower during the session.

The Nasdaq 100 rose 0.01% to close at 14,558.10 on Tuesday, amid gains in shares of Amazon.com, Inc. AMZN and Tesla Inc TSLA.

The S&P 500 gained 0.24%, while the Dow Jones rose 0.03% to 33,573.28 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 3.7% to close at 14.19 on Tuesday.

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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