Stock Market Update Tuesday April 30, 2024

Stock Market Update Tuesday April 30, 2024 Stronger than expected wage data this morning left investors in a bearish mood, with stocks plunging 1.6% on the S&P 500 to conclude April with a roughly 4% loss, trimming year-to-date gains to about 6%.

Away From Stocks: Treasury’s experienced broad-based pressure, as two-year yields surged seven basis points to 5.04% (matching the highest finish since mid-November), and the long bond edged up to 4.79% from 4.75%. In parallel, gold retreated nearly 2% to $2,290 an ounce, bitcoin plummeted 6.5% to $59,600, and WTI crude slid below $82 per barrel. Amidst the sea of red, the VIX advanced to 15.65, up one point on the day.

The Federal Open Market Committee is scheduled to announce a rate decision tomorrow afternoon, with investors expecting a status quo outcome.

These time pivots are known before the stock market opens at 9:30am

Tomorrow's Time Pivot's Today, However They May Change in The Morning When The Markets Open at 09:30am