Stock Market Update Wednesday October 2, 2024
Stock Market Update Wednesday October 2, 2024 Stocks treaded water today, resulting in a flat finish for the indices, following yesterday’s moderate selloff. The S&P 500 edged up 0.01%, the Nasdaq gained 0.08%, while the Russell 2000 slipped 0.03%. At least 20 stocks in the S&P 500 reached new 52-week highs today, with notable names including Home Depot, Raytheon, BlackRock. Nike shares slid nearly 7% after the company withdrew its full-year guidance and postponed its investor day ahead of an upcoming CEO transition.
Away From Stocks: In the bond market, Treasury's experienced a bear steepening move, with 2- and 30-year yields rising two and six basis points, respectively, to 3.63% and 4.14%. WTI crude advanced toward $71 per barrel, while gold consolidated Wednesday’s gains, holding steady at $2,660 an ounce. Bitcoin remained under pressure, trading at $60,600, and the VIX pulled back below 19, signaling a decline in implied volatility.
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