The market’s fear gauge was flashing on Tuesday as technology stocks led the big three indexes lower. The CBOE Volatility Index, or Vix, was up 9.6% to 15.61. With implied volatility spiking, consumer staples were an outlier in the session.
U.S. stocks ended sharply higher on Thursday, with the S&P 500 hitting a new record high, after weaker-than-expected retail sales data bolstered hopes among investors that the Federal Reserve would soon start cutting interest rates.
U.S. stocks may have some room to keep up their bullish run before the Federal Reserve’s first interest-rate cut — despite a jump in volatility after Tuesday’s hotter-than-anticipated inflation data, according to DataTrek Research.