Stock Market Update Monday March 25, 2024

Stock Market Update Monday March 25, 2024 The FOMC opted to maintain rates unchanged and refrained from committing to future adjustments. Nonetheless, Jerome Powell & Co. suggested the possibility of rate cuts during the post-FOMC meeting press conference, contributing to trader optimism last week. Traders appear to be grappling with a lingering effect from last week's euphoria. However, today's low volume on the SPY ETF signaled one of the lowest volume days of the year, indicating a subdued market sentiment. Most stock indices experienced modest declines in lackluster trading day.

Away From Stocks: While long-dated Treasuries also experienced modest pressure, with 10- and 30-year yields settling at 4.25% and 4.42%, respectively, each up three basis points on the day. WTI crude rebounded towards $82 a barrel, gold finished little changed at $2,172 per ounce, and the VIX ticked above 13.