Stock Market Update Friday August 30, 2024

Stock Market Update Friday August 30, 2024 Stocks surged in a late-session rally ahead of the holiday weekend, with the S&P 500 advancing nearly 1%, closing August with an impressive year-to-date gain of nearly 20%.

Away From Stocks: Treasury's faced headwinds, with two-year yields rising four basis points to 3.91%, while the 30-year bond saw its yield tick up to 4.2% from 4.15% on Thursday. WTI crude dipped below $74 per barrel, gold retreated to $2,502 per ounce, Bitcoin slid below $59,000, and the VIX settled under 15, indicating reduced market volatility.

Spot market volumes for BTC remain subdued, contributing to the recent choppy price action. 📉 However, seasonal volume trends indicate that activity typically picks up post-Labor Day, potentially signaling an upcoming shift.