Stock Market Update Thursday April 4, 2024

Stock Market Update Thursday April 4, 2024, The bulls got a jolt ahead of tomorrow’s March jobs report, with the market starting strong and the indices gaining almost 1% in the first half-hour. From there, the market traded higher until a rumor about Iran attacking Israel triggered a selloff that seemed to feed on itself, leaving the indices about 1.5% lower.

Away From Stocks: Treasury yields saw a boost, with the 2- and 30-year yields settling at 4.65% and 4.47%, respectively, marking a decline of three and four basis points on the day. Meanwhile, WTI crude oil surged to fresh year-to-date highs, nearing $87 a barrel, while gold retreated to $2,289 per ounce after reaching $2,303 earlier in the day. Bitcoin remained steady near $67,500, reflecting a 2% increase over the past 24 hours. Additionally, the VIX spiked by more than two points to 16.5, marking its highest level of 2024.

SPY ETF 10 Minute Chart

ES Futures 5 Minute Chart Early Morning

ES 5 Minute Chart After The Bell.

Bitcoin is showing a bull flag daily chart, If this breaks out we can measure the upside target.