The S&P 500 closed slightly higher on Monday as investors digested the payrolls data released on Friday.

On Friday, the Labor Department reported that the US economy added 236,000 jobs in March, just below economists’ estimate of 240,000 new jobs. US wages rose 4.2% year-on-year, while the unemployment rate fell to 3.5% from 3.6%.

US wholesale inventories rose 0.1% mom in February, compared to the preliminary estimate of a 0.2% rise and compared to a revised 0.6% decline in January.

Markets now see a 72% chance that the US Federal Reserve will hike interest rates by another 25 basis points at its May meeting.

Big banks, including Citigroup Inc. C, Wells Fargo & Co WFC And JPMorgan Chase & Co JPM are due to report results this week. Inflation data will be released on Wednesday.

Major sectors of the S&P 500 ended mixed, with industrials and energy stocks posting the biggest gains on Monday. However, shares in communications services and utilities closed lower during the session.

The Nasdaq 100 fell 0.09% to close at 13,051.23 on Monday amid losses apple inc AAPL And alphabet inc Google.

The S&P 500 was up 0.10%, while the Dow Jones was up 0.30% to 33,586.52 in the previous session.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 3.5% to 19.04 points on Monday.

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.

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