US stocks were significantly higher on Thursday after an earlier sell-off earlier in the session.
Traders digested the Consumer Price Index, which showed US annual inflation fell for the third straight month to 8.2% in September, its lowest level in seven months, from 8.3% the previous month. However, analysts were expecting a reading of 8.1%.
US major banks, including JPMorgan Chase & Co. JPM, MorganStanley MRS, Wells Fargo & Company WFCand Citigroup Inc. Care all ready to release results today.
The Nasdaq 100 rose 2.30% to close at 11,033.58 on Thursday amid a decline apple inc AAPL and Microsoft Corporation MSFT Equities, while the S&P 500 rose 2.6%. The Dow Jones jumped 828 points to settle at 30,038.72 in the previous session.
All major sectors of the S&P 500 ended on higher notes, with financials and energy stocks posting the biggest gains on Thursday.
The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 4.7% to 31.99 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 call and put options of the S&P 500 index options.
