The S&P 500 closed higher on Friday after more strong earnings reports from companies.

The benchmark S&P 500 ended the week higher, also posting gains for the second straight month.

ExxonMobil Corp XOM Stocks closed higher on Friday after reporting record first-quarter earnings. Chevron Corporation CVX also reported better than expected first quarter results.

Intel Corporation INTC Shares gained 4% on Friday after the company released better-than-expected Q1 results and guidance.

shares of Bank of the First Republic FRC Slumped more than 43% on Friday and fell another 34% in after-hours trading on continued weakness after a report suggested the bank would be put under receivership by the US Federal Deposit Insurance Corporation.

Most major sectors of the S&P 500 ended positively, with energy and financials posting the biggest gains on Friday. However, utility and consumer discretionary stocks settled slightly lower during the session.

The Nasdaq 100 rose 0.65% to close at 13,245.99 on Friday amid gains NVIDIA Corporation NVDA And Tesla Inc TSLA.

The S&P 500 was up 0.83%, while the Dow Jones was up 0.80% to 34,098.16 in the previous session.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 7.3% to close at 15.78 on Friday.

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.

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