Stock Market Update Tuesday January 7, 2025

Stock Market Update Tuesday January 7, 2024 A classic "sell-the-news" reaction followed Nvidia's CES presentation on Monday evening, sending shares down 6% despite an 11% rally over the first three trading sessions of the year. This pullback contributed to a broader market slide, with the S&P 500 shedding 1.1% and closing near session lows.

Away From Stocks: Pressure extended to Treasurys, as yields moved higher: the 30-year bond climbed six basis points to 4.91%, while the 2-year note ticked up to 4.30% from 4.28% on Monday. In commodities, WTI crude rebounded above $74 per barrel, and gold advanced to $2,650 per ounce, reflecting continued demand for safe-haven assets. Meanwhile, Bitcoin retreated below $97,000, and volatility spiked, with the VIX surging nearly two points to close just under 18.