Stock Market Update Friday July 19, 2024

Stock Market Update Friday July 19, 2024 Negative market sentiment continued to prevail on Friday, as equities experienced a broad-based decline. The S&P 500 index retreated by two-thirds of a percent, resulting in a 2% loss for the week. The Nasdaq 100 index suffered a further decline of 0.9%, bringing its weekly loss to 4%. The Russell 2000 index, although slipping by 0.5%, managed to retain a weekly gain of 1.7%.

Away From Stocks: Treasury yields experienced upward pressure, with the two-year yield increasing by one basis point to 4.49% and the 30-year yield rising by four basis points to 4.45%. WTI crude oil prices plummeted to $78 per barrel, while gold prices dipped below the $2,400 per ounce mark. In contrast to the prevailing bearish trend, Bitcoin rallied towards $67,000. The VIX index, a measure of market volatility, increased by nearly four points from Monday morning, closing at 16.5.