Stock Market Update Monday January 29, 2024

Stock Market Update Monday January 29, 2024 News that Treasury plans to borrow $760 billion in the current quarter instead of the department’s previous $816 billion guesstimate powered the latest rally in stocks and bonds, as the S&P 500 advanced 0.8% while Treasury yields dropped by five and seven basis points on the two-year note and 30-year bond, respectively, leaving that pair at 4.29% and 4.31%. WTI crude pulled back to $77 a barrel, gold rose to $2,031 per ounce and the VIX crept towards 14. This week is anticipated to host numerous catalysts, including earnings reports from several mega-cap tech stocks, the FOMC meeting, and Friday's nonfarm payroll report. Consequently, there is a possibility that we may observe intriguing movements across various markets.