Stock Market Update Monday March 25, 2024 The FOMC opted to maintain rates unchanged and refrained from committing to future adjustments. Nonetheless, Jerome Powell & Co. suggested the possibility of rate cuts during the post-FOMC meeting press conference, contributing to trader optimism last week. Traders appear to be grappling with a lingering effect from last week's euphoria. However, today's low volume on the SPY ETF signaled one of the lowest volume days of the year, indicating a subdued market sentiment. Most stock indices experienced modest declines in lackluster trading day.
Away From Stocks: While long-dated Treasuries also experienced modest pressure, with 10- and 30-year yields settling at 4.25% and 4.42%, respectively, each up three basis points on the day. WTI crude rebounded towards $82 a barrel, gold finished little changed at $2,172 per ounce, and the VIX ticked above 13.
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