Stock Market Update Thursday August 29, 2024

Stock Market Update Thursday August 29, 2024 A flat close masked volatile intraday swings, with the major averages erasing overnight losses and rallying nearly 2% on the Nasdaq 100 before retracing gains by the session's end. Nvidia recorded a 6.4% post-earnings decline, closing near its session lows.

Away From Stocks: Treasury's faced modest selling pressure, with the 2-year and 30-year yields rising to 3.87% and 4.15%, respectively, up four and two basis points on the day. Meanwhile, WTI crude rebounded towards $76 per barrel, and gold advanced to $2,521 per ounce. Bitcoin edged higher, finishing at $59,500, while the VIX retreated below 16, down over a point.