Daily Stock Market Update

Daily Stock Market Update

Share this post

Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Friday May 10, 2024

Stock Market Update Friday May 10, 2024

Tom's avatar
Tom
May 10, 2024
∙ Paid
7

Share this post

Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Friday May 10, 2024
1
Share

Stock Market Update Friday May 10, 2024 Equity markets closed nearly flat on Friday, with the S&P 500 registering a modest gain to conclude a positive week. The index advanced 1.4% over the five-day period, reflecting a continuation of the bullish trend.

Fixed income markets, however, experienced a shift in sentiment. Treasury yields edged higher, with the two-year yield rising seven basis points to 4.87% and the long bond yield increasing to 4.64% from Thursday's level of 4.6%. This upward movement in yields suggests a potential sell-off in the bond market, as investors price in expectations of higher interest rates.

The price of WTI crude oil retreated slightly, dipping towards $78 per barrel. This could be due to a confluence of factors, such as increased supply or softening demand.

Conversely, gold prices maintained their upward momentum, reaching $2,364 per ounce. This could be interpreted as a haven trade, where investors seek the perceived safety of gold during periods of market uncertainty.

Bitcoin prices, however, retreated to their lowest point in a week, settling at $60,700. This pullback suggests a potential cooling-off period for the cryptocurrency after a period of strong gains.

Finally, the VIX volatility index remained subdued, closing at 12.6 and reaching new year-to-date lows. This indicates low volatility expectations in the market, which is often seen as a sign of investor confidence.

Daily Stock Market Update & E-mini Day Trading Recap is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Keep reading with a 7-day free trial

Subscribe to Daily Stock Market Update to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 AlgoTradeAlert.com
Publisher Terms
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share