Market volatility rises slightly after S&P 500 record weekly loss – Apple (NASDAQ:AAPL), Gap (NYSE:GPS)

The S&P 500 index closed higher in a choppy session on Friday as investors shrugged off aggressive comments from Fed officials about interest rate hikes.

shares of Gap, Inc. GPS Shares jumped more than 7% on Friday after the company reported better-than-expected third-quarter sales results.

Most sectors on the S&P 500 closed on a positive note, with utilities and real estate stocks posting the biggest jumps on Friday. However, energy and communication services stocks declined in the previous session.

For the week, the S&P 500 dropped 0.7%, while the Nasdaq fell 1.6% for the week.

The Nasdaq 100 closed up 0.01% at 11,677.02 on Friday amid modest gains in U.S. shares. Meta Platforms Inc meta And apple inc AAPL, The S&P 500 climbed 0.48%, while the Dow Jones closed at 33,745.69, having jumped nearly 200 points in the previous session.

The CBOE Volatility Index (VIX) of the Chicago Board Options Exchange rose 0.13% to 23.96.

What is the CBOE Volatility Index?

The CBOE Volatility Index, popularly known as the VIX, is a measure of expected equity market volatility based on S&P 500 Index call and put options.

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