Stock Market Update Friday September 6, 2024

Stock Market Update Friday September 6, 2024 The latest mixed payrolls report offered little solace to bullish investors, as equity markets slumped, with the S&P 500 shedding 1.7% and the Nasdaq 100 tumbling 2.7%. This marked the most significant weekly decline since March 2023.

Away From Stocks: Treasury yield curve steepened; two-year yields dropped by nine basis points to 3.66%, while the yield on the 30-year bond inched up slightly to 4.03% from 4.02%. In commodities, WTI crude oil fell to a year-to-date low of $68 per barrel, gold declined to $2,495 per ounce, and Bitcoin retreated nearly 5%, landing at $53,400. Meanwhile, the VIX, a measure of market volatility, climbed above 22, signaling heightened investor anxiety.

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