Stock Market Update Thursday December 5, 2024

Stock Market Update Thursday December 5, 2024 No fresh record highs were logged in the equity markets today as a late-session downdraft nudged the S&P 500 and Nasdaq 100 lower by 0.2% and 0.3%, respectively. This subdued trading comes in anticipation of tomorrow's November payrolls report, a key indicator for market sentiment.

Away From Stocks: In the fixed-income space, Treasury yields exhibited a mixed pattern. The 30-year bond yield softened by 2 basis points, closing at 4.33%, while the 2-year yield edged up to 4.15% from its prior 4.13%. Meanwhile, WTI crude oil remained range-bound, holding steady near $69 per barrel, reflecting a balanced supply-demand outlook. Gold prices, however, dipped to $2,631 per ounce, signaling slight weakness in the safe-haven asset amid stable market conditions. In the cryptocurrency sphere, Bitcoin retraced from its recent highs, settling at $99,000, down from over $103,000 during overnight trading. The Volatility Index (VIX) stayed relatively calm, lingering below the 14 mark, suggesting subdued market volatility expectations.