U.S. stocks closed higher on Wednesday after posting the largest single-session percentage decline since June 2020 in the previous session.
Equity markets in the US fluctuated for most of the day but ended the session on a positive note.
US producer prices fell for the second straight month in August as gasoline costs continued to fall. Consumer price index data released by the Labor Department on Tuesday showed the consumer price index hit 8.3%, up from 8.5% in July. Economists put the CPI at 8%.
shares of apple inc AAPL and Amazon.com Inc AMZN closed slightly higher on Wednesday.
That Nasdaq100 up 0.84% to close at 12,134.40 on Wednesday during the S&P500 rose 0.34%. That Dow Jones gained about 30 points to settle at 31,135.09 in the previous session.
The mayor sectors in the S&P 500 ended mixed, with energy stocks posting the largest gains on Wednesday. However, the real estate sector was the worst performing sector, falling about 1.4% in the previous session.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 4.5% to 26.05 points.
What is the CBOE Volatility Index?
The CBOE Volatility Index, popularly known as the VIX, is a measure of stock market volatility expectations based on the call and put of the S&P 500 Index options.
