Stocks Rise as Risk-On Rally Lifts Banks, Tech: Markets Wrap
- Cboe Volatility index closes at lowest in three weeks
- Nasdaq 100 enters bull market, rising 20% from December low
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US stocks advanced as risk appetite continued to recover from turmoil in the banking sector, led by gains in technology and financial shares.
The tech-heavy Nasdaq 100 entered a bull market, rising 20% from a December low. The S&P 500 powered back above 4,000, with 92% of components ending higher — the first time that has happened in 2023, according to Susquehanna. Meanwhile, the Cboe Volatility index closed at the lowest in three weeks.