Stock Market Update Monday November 4, 2024

Stock Market Update Monday November 4, 2024 Markets displayed a steady hand in anticipation of the elections and the upcoming FOMC meeting, as major indices took a cautious breather. The S&P 500 and Nasdaq 100 saw marginal declines, reflecting tempered risk sentiment.

Away From Stocks: In fixed income, Treasury yields saw a recovery, retracing most of Friday’s selloff, with the 2-year and 30-year yields closing at 4.16% and 4.5%, respectively, indicating a stable yield curve as investors awaited central bank signals. Commodities experienced mixed moves; WTI crude oil prices rose, nearing $72 per barrel, amid supply considerations, while gold remained nearly flat at $2,737 per ounce, suggesting a modest safe-haven appeal. Bitcoin retraced to $67,100, showing volatility typical of the crypto market. Meanwhile, the VIX edged just under 22, signaling moderate market anxiety as traders braced for pivotal announcements ahead.