Stock Market Update Thursday May 30, 2024

Stock Market Update Thursday May 30, 2024 Equity markets experienced another round of moderate selling pressure, with the S&P 500 index declining by two-thirds of a percent at the close of trading. Investor sentiment was dampened by disappointing financial results and a bearish outlook from software giant Salesforce, whose shares plummeted 20%, further undermining the bullish momentum in the market.

Away From Stocks: Treasury's staged a modest recovery from recent declines, with yields on the benchmark 2-year and 30-year notes settling at 4.92% and 4.69%, respectively, marking a decrease of four and five basis points on the day. The commodities market also saw notable movement, with WTI crude oil prices sliding below the $78 per barrel mark, while gold prices experienced a slight uptick to $2,342 per ounce. In the cryptocurrency sphere, Bitcoin made gains, reaching $68,200, and the CBOE Volatility Index (VIX), a measure of market volatility expectations, remained elevated just above 14.

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