Stock Market Update Monday February 12, 2024

Stock Market Update Monday February 12, 2024 The upward momentum persisted, with the Nasdaq rising nearly 0.5% by midday. However, the other major indices did not show the same strength, except for the Russell 2000, which closed with a gain of 1.8%. Nevertheless, the rest of the market relinquished their early gains, ending slightly lower on the S&P500 and the Nasdaq100.

Away From Stocks: Treasury's are in focus ahead of tomorrow’s January CPI print, with the long bond holding steady at 4.37%, while two-year yields edged down to 4.46% from 4.48% on Friday. This movement was anticipated given the day-long strength in the VIX, with the volatility gauge rising one point to nearly 14. WTI crude oil maintained its stability at $77 a barrel, while gold experienced a slight dip to $2,021 per ounce.