Apple off early lows
The S&P 500 continues to trade at session highs with a 1.7% gain. Looking at the mega-cap stocks shows green mostly everywhere, expect Apple (AAPL 163.34, -1.43, -0.9%), which is still struggling on concerns about iPhone 13 demand. AAPL shares, though, were down as much as 4% at the open. NVIDIA (NVDA 324.14, +9.84, +3.1%) is outperforming in the mega-cap domain. The CBOE Volatility Index is down 11.3% to 27.60, as investors tone down their hedging positions given the rally effort in the market.