Stock Market Daily Update Thursday June 27, 2024 Equity markets exhibited a marginal uptick, with the S&P 500 gaining 0.1% in another low-volatility session, continuing a trend of minimal daily fluctuations.
Away From Stocks: Treasuries also experienced slight gains, as the two-year note yield edged back to 4.7% and the long bond yield declined by two basis points to 4.43%. Meanwhile, WTI crude oil rebounded towards $82 per barrel, gold prices rose to $3,227 per ounce, Bitcoin inched towards $61,400, and the VIX volatility index dropped to near 12, indicating reduced market uncertainty. The Federal Reserve's quantitative tightening (QT) program progressed further, with a $13.2 billion weekly decline in Reserve Bank credit, bringing the total portfolio of interest-bearing assets to $7.208 trillion. This represents a $52 billion decrease since the last week of May and a 19.2% reduction from the early 2022 peak.
Holiday trading started early this week.
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