Stock Market Update Friday November 8, 2024 Market Milestones: Stocks Surge Amidst Record Highs. Equities maintained their bullish momentum, with the S&P 500 adding 0.4% to cap off a robust weekly gain nearing 5%, briefly pushing the index above the landmark 6,000 level for the first time. The Dow Jones also hit a significant milestone, surpassing 44,000 as investor sentiment remained buoyant.
Away From Stocks: In fixed income markets, Treasury yields diverged, with 30-year bonds showing continued strength as yields eased by five basis points to 4.47%. Meanwhile, the yield on the two-year note ticked up from 4.21% to 4.26%, reflecting a nuanced view on interest rate expectations and future economic conditions. Commodities saw a slight pullback, with WTI crude sliding back toward $70 per barrel and gold softening to $2,684 per ounce amid shifting investor allocations. Bitcoin steadied after its recent rally, consolidating at $76,500, while the VIX, the volatility index, dipped below 15, signaling a tempered risk environment as markets closed out a week of milestones.
