top of page

Stock Market Update Friday June 7, 2024

Stock Market Update Friday June 7, 2024 The unexpectedly robust Nonfarm Payroll (NFP) report, despite its potential for misinterpretation, unsurprisingly caused a sharp decline in the bond market, initially dragging down S&P 500 futures as well. However, the indices quickly rebounded, turning positive by midday. The afternoon saw a slight softening in the market, although the downside remained limited. The broader equity market, as measured by the S&P 500, remained relatively flat, closing the week with marginal gains of less than 1%, despite the volatile trading activity surrounding the GameStop phenomenon.

Away From Stocks: May's surprisingly robust employment data triggered a significant sell-off in the Treasury market, with yields on 2-year and 30-year bonds surging 15 and 12 basis points, respectively, to reach 4.87% and 4.55%. In the commodities sector, West Texas Intermediate (WTI) crude oil dipped towards $75 per barrel, while gold experienced a sharp decline of nearly 4%, settling at $2,288 per ounce.  Bitcoin also retreated, falling 2% to $69,100.  Meanwhile, the CBOE Volatility Index (VIX), a measure of market volatility, closed the trading day slightly above 12.

💻Get Started at Free Trial Premium Membership➕📉Algorithm Stock Trading 📈➕ SPY Swing Trader➕ES Live Day Trading


Want to read more?

Subscribe to to keep reading this exclusive post.


Couldn’t Load Comments
It looks like there was a technical problem. Try reconnecting or refreshing the page.
bottom of page