Stock Market Update Tuesday May 14, 2024
Stock Market Update Tuesday May 14, 2024
Equities rallied by half a percent on the S&P 500, marking the broad market index's eighth positive close in nine sessions, as investors anticipated tomorrow's April Consumer Price Index (CPI) data release.
Away From Stocks: Government bonds also saw buying interest, with yields easing by three to four basis points across the curve. Meanwhile, West Texas Intermediate (WTI) crude oil prices dipped to $78 per barrel, while gold rebounded to $2,357 per ounce. Bitcoin, the leading digital currency, retreated to $61,600, and the VIX, a measure of market volatility, settled slightly above 13.
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