Stock Market Update Tuesday September 10, 2024

Stock Market Update Tuesday September 10, 2024 September's stock market volatility persisted today, with major indices ending the session in positive territory. The S&P 500 gained 0.45%, while the Nasdaq Composite rose 0.84%. However, the Russell 2000 lagged, declining by 0.23%. The Nasdaq’s outperformance was driven by strength in the Magnificent Seven stocks, with Tesla surging 4.5%, Amazon advancing 2.5%, Microsoft adding 2%, and Nvidia gaining 1.5%.

Away From Stocks: Short-dated Treasurys experienced another sharp decline, pushing the two-year yield down to 3.59%, marking a drop of over 30 basis points since the beginning of the month. On the downside, Energy and Financials were the weakest sectors, falling 1.7% and 1%, respectively. Meanwhile, gold posted modest gains, settling at $2,517 per ounce. Bitcoin continued its upward momentum, climbing to $57,800, and the VIX edged lower, approaching 19. The August Consumer Price Index (CPI) report will be released tomorrow, followed by the Producer Price Index (PPI) on Friday.