Stock Market Update Monday July 15, 2024

Stock Market Update Monday July 15, 2024 Equities closed in positive territory on Monday, with the S&P 500 and Nasdaq 100 indices each gaining approximately 0.3%, despite retracing from earlier stronger gains. Small-cap stocks continued their robust performance, with the Russell 2,000 index surging nearly 2%, bringing its cumulative gains over the past three sessions to 6.8%.

Away From Stocks: The Treasury yield curve experienced bear steepening, as the yield on the long bond increased seven basis points to 4.46%, while the yield on two-year notes edged slightly higher to 4.44% from 4.45% on Friday. In the commodities market, WTI crude oil dipped below $82 per barrel, while gold prices climbed above $2,420 per ounce, approaching their previous peak within a 1% margin. Bitcoin rebounded to $63,700, and the VIX volatility index briefly crossed the 13 mark.

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