The S&P 500 settled higher on Monday on optimism that Tuesday’s debt ceiling talks could yield results.

Investors also took stock of economic data released on Monday, which showed the NY Empire State Manufacturing Index fell to -31.8 in May from 10.8 the previous month, while analysts’ estimates came in at -3.75.

Oil prices also rose on Monday after falling for three consecutive sessions.

Major sectors in the S&P 500 ended mixed, with materials and financials posting the biggest gains on Monday. However, utility stocks closed significantly lower during the session.

The Nasdaq 100 rose 0.55% to close at 13,413.51 on Monday amid gains Amazon.com, Inc. AMZN And NVIDIA Corporation NVDA.

The S&P 500 gained 0.30%, while the Dow Jones rose 0.14% to 33,348.60 in the previous session.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) rose 0.5% on Monday to close at 17.12.

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 values ​​for the S&P 500 Index options.

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