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Stock Market Update Monday March 4, 2024

Stock Market Update Monday March 4, 2024 The indices showed some weakness early on, although there wasn't much downside pressure. The notable underperformer was none other than Apple, which had been resilient for about a year and a half, but negative news now seems to be affecting it. In the afternoon, the market briefly edged back into positive territory before reversing course and closing modestly lower. In a peculiar turn of events, the S&P 500's inclusion of AI speculative favorite Super Micro Computer caused its stock price to surge by about 25%.

Away From Stocks: Treasury's came under pressure, with 2- and 30-year yields rising to 4.61% and 4.36%, respectively, up seven and three basis points on the day. Meanwhile, WTI crude slipped below $79 a barrel, and spot gold surged another 1.5% to a record $2,116 per ounce. The VIX edged higher to 13.5.


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