Market Volatility Rises Sharply; S&P 500 Records Gain

The S&P 500 and the Nasdaq climbed to their highest settlement levels since April 2022 on Monday.

Investors are awaiting inflation report and the Fed’s interest rate decision. Traders are now seeing around 72% chance that the Federal Reserve will maintain interest rates at its meeting on June 13-14. Data on consumer price index will be released today.

Nasdaq, Inc. NDAQ shares dropped around 12% on Monday after the company announced the acquisition of Adenza for $10.5 billion in cash and stock.

Broadcom Inc. AVGO shares gained over 6% on Monday following reports that the company is set to receive approval from EU antitrust regulators to acquire VMware VMW for $61 billion.

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

The Nasdaq 100 rose 1.76% to close at 14,784.30 on Monday, amid gains in shares of Amazon.com, Inc. AMZN and Tesla Inc TSLA.

The S&P 500 rose 0.93%, while the Dow Jones rose 0.56% to 34,066.33 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) rose 8.5% to close at 15.01 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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