Cboe Earnings Beat, Job Cuts Drive S&P 500 to Record High as VIX Cools to 17

Cboe Global Markets exceeded Q1 expectations with adjusted EPS of $3.70 (up 48%, beating by 36 cents) and revenue of $728.9 million (up 29%), announcing a 20% workforce cut while raising organic growth targets; shares surged over 8% above $324, lifting the S&P 500 0.4% to a record high as VIX eased to ~17 from over 30. This contrasts with January 6, when S&P 500 gains of ~0.6% coincided with a rare 2.7% VIX rise—driven by cheap hedging amid jobs data, tariffs ruling, and geopolitical uncertainty—signaling high hedging demand. Eased volatility now reduces pressure, fueling risk-on momentum over four months.