Stock Market Update Friday June 28, 2024 Equity markets experienced moderate selling pressure following an initial surge, resulting in a decline of approximately 40 basis points for the S&P 500. This trimmed year-to-date gains to approximately 15% at the mid-year mark of 2024.
Away From Stocks: Treasuries faced a sell-off in response to a recent political event, leading to a notable rise in yields. The long bond yield surged eight basis points to 4.51%, reaching a near three-week high. Meanwhile, WTI crude oil prices held steady just below $82 a barrel, while gold prices saw a slight dip to $2,225 an ounce. Bitcoin also experienced a minor decline to $60,100. The VIX volatility index, however, remained below 13, indicating continued market stability.
Time flies! The first half of 2024 has come to an end just like that. It's always a good moment to reflect on what's been accomplished and to set new goals for the second half.
$SPY: +14%
$QQQ: +18%
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