Stock Market Update Wednesday March 20, 2024

Mar 20, 2024

∙ Paid

The Federal Reserve's continued anticipation of three rate cuts this year, despite its upward revisions to 2024 inflation and GDP forecasts, catalyzed the latest surge in stocks. The S&P 500 jumped nearly 1%, while the Nasdaq 100 enjoyed a 1.2% advance.

Away From Stocks: Short-term Treasuries also rallied, with the two-year note settling at 4.59% from 4.68% on Tuesday, while the long bond edged higher to 4.45%. Gold pushed to $2,187 per ounce, up 1.3% on the day, as WTI crude retreated below $82 a barrel. Bitcoin rebounded above $66,000, and the VIX tumbled to 13.

SPY ETF 10 Minute Intraday Chart

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