Stock Market Update Tuesday May 21, 2024

Stock Market Update Tuesday May 21, 2024 Equities remained stable as the S&P 500 index climbed 0.25%, reaching new all-time highs and marking a year-to-date gain of over 12%. 

Away From Stocks: long-term bond yields experienced a minor decline of 3 basis points, setting the 10-year and 30-year Treasury yields at 4.41% and 4.45%, respectively, while the 2-year yield held steady at 4.82%. In the commodities market, WTI crude oil dipped below $79 per barrel, and gold saw a modest decrease to $2,422 per ounce. Meanwhile, Bitcoin faced some downward pressure, trading at $69,500, and the VIX volatility index retreated below 12.