Stock Market Update Monday January 6, 2025

Stock Market Update Monday January 6, 2025 The first non-holiday trading week of 2025 commenced with equities exhibiting broad-based strength. The S&P 500 (SPX) advanced by 0.55%, while the Nasdaq 100 (QQQ) surged 1.15%. Remarkably, the market has maintained resilience near the 6000 threshold on the SPX, despite persistent headwinds in the Treasury market. Technology and AI stocks led the rally, with Nvidia gaining 3.43%, Micron climbing 10.45%, Applied Materials increasing by 4.36%, and ASML Holdings rising 7.58%. Conversely, Palantir was a notable underperformer, declining 4.97%.

Away From Stocks: Long-dated Treasuries faced continued selling pressure, as the 10-year yield climbed two basis points to 4.62%, and the 30-year yield added three basis points to settle at 4.85%. In the commodities space, WTI crude oil slipped below $74 per barrel, while gold edged lower to $2,637 per ounce. Meanwhile, bitcoin extended its gains, approaching the $102,000 mark, and the VIX (CBOE Volatility Index) eased to settle just above 16, signaling a slightly calmer market backdrop.