S&P 500 Rises Over 1%, Market Volatility Decreases

The S&P 500 surged more than 1% on Tuesday as traders digested comments from Fed chief Jerome Powell.

Baidu, Inc. BIDU shares jumped 12% on Tuesday after the company announced it will launch its own AI chatbot called Ernie Bot. DuPont de Nemours, Inc. DD shares gained over 7% after the company reported Q1 earnings results.

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

The Nasdaq 100 jumped 2.12% to close at 12,728.27 on Tuesday, amid gains in shares of Tesla Inc TSLA and Apple Inc AAPL.

The S&P 500 added 1.29%, while the Dow Jones rose 0.78% to 34,156.69 in the previous session.

The Chicago Board Options Exchange's CBOE Volatility Index (VIX) fell 4% to 18.66 points 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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