Market Volatility Decreases As S&P 500 Notches Gains For 4th Straight Week

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U.S. stocks closed higher on Friday, also recording gains for the week.

Signs that inflation may have peaked boosted overall market sentiment, which resulted in the S&P 500 and the Nasdaq recording gains for the fourth week in a row.

The Nasdaq 100 surged 2.06% to close at 13,565.87 on Friday, while the S&P 500 gained 1.73%. The Dow Jones gained around 424 points to settle at 33,761.05 in the previous session.

Major sectors on the S&P 500 closed on a positive note, with consumer discretionary and information technology stocks recording the biggest surge on Friday.

Banking stocks extended their rally for a sixth consecutive week.

LegalZoom.com, Inc. LZ gained 18% on Friday after the company reported better-than-expected Q2 adjusted EPS and sales results.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 3.3% to 19.53 points.

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.