S&P 500 Settles Slightly Lower, Market Volatility Decreases By Benzinga

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S&P 500 Settles Slightly Lower, Market Volatility Decreases © Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect S&P 500 Settles Slightly Lower, Market Volatility Decreases   US500 -0.07% Add to/Remove from a Portfolio Add to Watchlist Add Position

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Benzinga – The S&P 500 ended slightly lower on Tuesday following the release of mixed quarterly earnings.

A technical issue caused the New York Stock Exchange to halt trading in a swath of stocks on Tuesday morning.

Economic data released Tuesday showed the S&P Global services PMI rising to 46.6 in January from 44.7 in the previous month, while manufacturing PMI increased to 46.8 in January from 46.2.

Union Pacific Corporation (NYSE: UNP) missed earnings estimates for the latest quarter on Tuesday, while Microsoft Corporation (NASDAQ: MSFT) reported downbeat quarterly revenue after the closing bell.

As far as the earnings season is concerned, 72 S&P 500 companies have released quarterly results so far, with around 65% of those exceeding market estimates.

Major sectors on the S&P 500 closed on a mixed note, with industrials and utilities stocks recording the biggest surge on Tuesday. However, health care and communication services stocks moved lower during the session.

The Nasdaq 100 fell 0.22% to close at 11,846.64 on Tuesday, amid gains in shares of Alphabet Inc. (NASDAQ: GOOGL) and Amazon.com, Inc. (NASDAQ: AMZN).

The S&P 500 slipped 0.07%, while the Dow Jones added 0.31% to 33,733.96 in the previous session.

The Chicago Board Options Exchange’s CBOE Volatility Index (VIX) fell 3.1% to 19.20 points on Tuesday.

What is CBOE Volatility Index?

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

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S&P 500 Settles Slightly Lower, Market Volatility Decreases  

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