Stock Market Update Wednesday May 15, 2024

Stock Market Update Wednesday May 15, 2024 Equities continued their upward trajectory after a largely in-line April CPI report, with the broad market index surging 1.2% to extend its May gains to 5.3%, less than halfway through the month.

Away From Stocks: Fixed income markets also experienced robust demand, with the 2-year and 30-year Treasury yields declining eight and nine basis points, respectively, to settle at 4.73% and 4.52%. Meanwhile, WTI crude oil rebounded to nearly $79 per barrel, gold rallied to $2,387 per ounce, Bitcoin soared 7% to $65,900, and the VIX volatility index settled below 12.5, nearing a year-to-date closing low.

Yesterday we wrote: Nvidia Stock Bull Flag Ready To Break Out Tomorrow

Not Yet! Maybe Tomorrow...