Stock Market Update Election Day 2024

Stock Market Update Election Day 2024 Asset prices surged on Tuesday, with the S&P 500 posting a robust 1.2% gain, positioning it within 2% of its mid-October high. Dow rallies 400 points.

Away From Stocks: A strong 10-year Treasury auction fueled an afternoon rally in Treasurys, bringing yields on the 10-year and 30-year notes down to 4.26% and 4.44%, respectively. Meanwhile, WTI crude climbed above $72 per barrel, reflecting renewed demand momentum. Gold inched up to $2,745 per ounce, and Bitcoin advanced toward the $70,000 mark. The VIX fell sharply by 1.5 points to 20.5, indicating a notable decline in market volatility and a positive risk sentiment across assets.

Palantir Technologies (PLTR) surged 23.47% on strong earnings and robust demand for its AI offerings, propelling the stock to fresh all-time highs. This bullish move not only surpassed recent price levels but also broke through prior intra-week highs set in 2021, underscoring renewed investor confidence and momentum in the company’s growth trajectory.