Daily Stock Market Update

Daily Stock Market Update

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Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Monday December 2, 2024

Stock Market Update Monday December 2, 2024

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Tom
Dec 02, 2024
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Daily Stock Market Update
Daily Stock Market Update
Stock Market Update Monday December 2, 2024
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Stock Market Update Monday December 2, 2024 The Dow Jones Industrial Average surged 400 points to hit a new record high, while the small-cap Russell 2000 Index marked an all-time peak, buoyed by investor sentiment following the announcement of President Trump's Treasury Secretary pick. Stocks posted modest gains amid subdued trading activity, with turnover on the SPDR S&P 500 ETF Trust (SPY) barely surpassing Friday's abbreviated session volume and registering at approximately 50% of its one-year average—a sign of muted market participation.

Away From Stocks: In the fixed-income market, short-term Treasury yields edged higher, reversing part of the prior week's rally. The two-year Treasury yield climbed four basis points to 4.17%, reflecting a cautious recalibration of interest rate expectations. In commodities, West Texas Intermediate (WTI) crude oil held steady near $68 per barrel, maintaining recent consolidation levels. Gold prices slipped to $2,639 per ounce, weighed down by a firmer dollar and subdued haven demand. Meanwhile, bitcoin pulled back to $95,600, reflecting a pause in its recent upward momentum. Volatility remained contained, with the CBOE Volatility Index (VIX) settling slightly above 13, signaling a continued environment of relative calm in equity markets despite underlying cross-asset movements.

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