Market Volatility Decreases With Jackson Hole Conference In Focus

Market Volatility Decreases With Jackson Hole Conference In Focus

U.S. stocks closed mostly higher on Wednesday ahead of the Federal Reserve's Jackson Hole conference.

The S&P 500 recovered on Wednesday after losing ground in the prior three sessions amid renewed rate-hike concerns and energy crisis in Europe. The index has also rebounded 13% versus its mid-June low level.

Shares of Intuit Inc INTU gained 3.6% on Wednesday after the company reported better-than-expected Q4 results and issued strong FY23 sales guidance.

The Nasdaq 100 rose 0.28% to close at 12,917.86 on Wednesday, while the S&P 500 rose 0.29%. The Dow Jones gained around 60 points to settle at 32,969.23 in the previous session.

All the major sectors on the S&P 500 closed on a higher note, with energy stocks recording the biggest surge on Wednesday.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 5.4% to 22.82 points on Wednesday.

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.

Posted In: CBOE Volatility IndexEarningsNewsPre-Market OutlookMarketsTrading Ideas