Stock Market Update Friday February 23, 2024

Stock Market Update Friday February 23, 2024 Quiet trading can be a sign of complacency, which poses a challenge for an uptrend. During holiday trading, such quietness is normal, but in a regular week, it may signify something else. However, for now, the uptrend remains intact, and we anticipate further gains. Stocks finished relatively unchanged on the S&P 500 and Nasdaq 100, marking the end of another successful week for bullish investors.

Away From Stocks: Treasury's dominated the day's proceedings, with the long bond declining by 10 basis points to 4.37%. WTI crude experienced a nearly 3% retreat after reaching multi-month highs on Thursday. Gold saw a rally, reaching $2,035 per ounce, while the VIX settled below 14, more than two points lower than Wednesday's intraday peak.