Stock Market Update Friday January 3, 2025

Stock Market Update Friday January 3, 2025 Stocks rallied sharply, with the S&P 500 gaining 1.3%, recovering approximately one-third of its losses since the December 16 pullback.

Away From Stocks: Treasury yields continued their upward trajectory, as the 2-year and 30-year yields rose three basis points each to 4.28% and 4.82%, respectively. WTI crude oil extended its climb, reaching $74 per barrel, marking its highest level since mid-October. Meanwhile, gold retreated, surrendering about half of its prior session’s gains to trade at $2,637 per ounce. Bitcoin surged past the $98,000 mark, reflecting continued bullish momentum. The CBOE Volatility Index (VIX) dropped near two points, settling just above 16, signaling a decline in market uncertainty.