Sharp equity rally as volatility collapses
US stocks had their best session in months, led by semiconductors, while the VIX fell more than 20% and oil dipped. NVDA fell even as the sector surged.
What we know
The S&P 500 rose 2.6%, its best day since March, and the Nasdaq 3.1%, with the semiconductor index up 7.5% even as NVDA fell 5%. Another account put the Nasdaq gain at 3.68%, so figures differ. The VIX fell over 20% amid a short squeeze, per a market news account, and oil dipped. AMD closed up about 13% on a Google Cloud chip win and an analyst upgrade. Traders note SPX and NDX bounced at the 200-day average, and CPI is due Tuesday.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.