S&P 500 Hits All-Time Highs; Options Volume Surges 3.6% This Week

The S&P 500 reached an all-time high, gaining 0.6% on Friday and 3.6% for the week. Options volumes also broke records, with over four million S&P 500 index calls traded on Cboe Global Markets on Tuesday, exceeding May's record by 10%. The Cboe Volatility Index (VIX) dropped to its lowest level since January. Additionally, S&P 500 earnings are projected to grow by 47% in Q2 2023, marking the largest increase since the pandemic recovery in 2021, which is vital for investor sentiment.