Stock Market Update Tuesday November 19, 2024

Stock Market Update Tuesday November 19, 2024 Wall Street shrugged off early-session volatility fueled by geopolitical concerns to close with solid gains. The S&P 500 and Nasdaq 100 climbed 0.4% and 0.7%, respectively, as investor sentiment tilted toward optimism regarding the economy's resilience. Nvidia led the rally among tech giants, rising by 4%, while Walmart raised its outlook on strong spending from value-focused consumers, further boosting market confidence. Despite concerns over rising car-loan delinquencies, Wall Street remained unfazed, with year-to-date gains for the S&P 500 and Nasdaq 100 standing at an impressive 25%.

Away From Stocks: Treasury yields edged lower, reflecting modest strength in fixed-income securities. The two-year yield dipped by two basis points to 4.27%, while the 30-year yield, or long bond, eased slightly to 4.57% from 4.61% in the prior session. Commodities also advanced, with WTI crude oil inching higher to settle just under $70 per barrel. Gold continued its upward momentum, closing at $2,633 per ounce for a second consecutive green finish. Bitcoin maintained its strength in the digital asset market, settling at $92,400. The VIX, often referred to as Wall Street's "fear gauge," remained above 16, indicating ongoing caution in a complex macroeconomic environment.

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