Stock Market Update Friday April 26, 2024

Stock Market Update Friday April 26, 2024 Stocks surged, with the S&P 500 rising by 1% and the Nasdaq 100 by 1.5%, as the bulls successfully responded to last week's decline with a respective 2.1% and 3.5% rebound for these major indices.

Away From Stocks: Long-dated Treasury's experienced a rebound, with 30-year yields settling at 4.78%, down four basis points from the previous day and six basis points higher than last Friday's close. Meanwhile, WTI crude oil remained near $84 per barrel, and gold saw a slight increase, reaching $2,339 per ounce. The VIX retreated to 15, marking a decline of more than three points from Monday's early levels.

Futures rallied last night on the back of earnings reports from Google and Microsoft. With a significant gap up this morning, markets typically experience sideways movement, which was observed today. These time pivots are anticipated before the stock market opens at 9:30 am.

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