Sector Rotation: Financials and Tech Lead as VIX Hits Lows
Equities staged a broad-based advance on September 4, with financials and technology leading the charge as the fear gauge collapsed to year-to-date lows. The S&P 500 ETF (SPY) finished the session at $773.17, up 1.05% on elevated volume, while the CBOE Volatility Index (VIX) dropped 5.79% to 14.32. The sharp decline in the VIX suggests options traders are pricing in less near-term turbulence, creating a supportive backdrop for further equity gains.
Key Takeaways SPY rose 1.05% to $773.17 on 42.6 million shares, breaking above recent resistance. VIX fell 5.79% to 14.32, approaching year-to-date lows as hedging demand declines. Financials (XLF) led sector performance with a 1.56% gain on rate-c…
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