Stock Market Update Friday April 19, 2024

Stock Market Update Friday April 19, 2024 Tech stocks suffered a significant setback, with a 2.1% decline on the Nasdaq 100, while Bloomberg’s Magnificent 7 gauge experienced a more substantial loss of 3.4%, far exceeding the S&P 500's 0.9% downturn.

Away From Stocks: Treasury's experienced only a modest rebound, with 2- and 30-year yields closing at 4.97% and 4.72%, respectively. This reflects a slight decline of one and two basis points from the previous day but remains notably above the levels of 4.88% and 4.61% recorded last Friday. Meanwhile, WTI crude oil remained stable at $82 per barrel following an overnight surge and subsequent reversal, while gold briefly tested the $2,400 mark before settling at $2,388 per ounce. Additionally, the VIX, a measure of market volatility, edged higher towards 19.

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