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The S&P 500 settled slightly higher on Monday as Treasury yields pulled higher ahead of Fed’s Chair Jerome Powell testimony.
Investors also assessed the economic data released Monday, which showed US factory orders declining 1.6% in January, versus market expectations for a 1.8% drop.
Ciena Corporation reported better-than-expected results for the first quarter on Monday.
Major sectors on the S&P 500 closed on a mixed note, with information technology and communication services stocks recording the biggest gains on Monday. However, materials and consumer discretionary stocks were among the top losers during the session.
The Nasdaq 100 rose 0.1% to close at 12,302.48 on Monday, amid gains in shares of Microsoft Corp MSFT and Apple Inc AAPL.
The S&P 500 rose 0.07%, while the Dow Jones added 0.12% to 33,431.44 in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 0.7% to 18.61 points 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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Image and article originally from www.benzinga.com. Read the original article here.