U.S. stocks closed higher on the first trading session of the fourth quarter, after recording a sharp sell-off in September.
Economic data released Monday showed a slowdown in manufacturing activity. U.S. manufacturing activity increased at its slowest pace in around 2-1/2 years during September, which is expected to impact the Federal Reserve’s aggressive rate-hiking strategy.
Shares of Apple Inc. AAPL, Amazon.com, Inc. AMZN and Meta Platforms, Inc. META, all traded higher on Monday.
The Nasdaq 100 jumped 2.36% to close at 11,229.73 on Monday, while the S&P 500 rose 2.59%. The Dow Jones surged around 765 points to settle at 29,490.89 in the previous session.
All the major sectors on the S&P 500 closed on a positive note, with energy stocks recording the biggest surge on Monday.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 6.7% to 29.50 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.
Image and article originally from www.benzinga.com. Read the original article here.