Stock Market Update October 10, 2023 In today's market activity, Treasurys were indeed the beneficiary of a strong buying interest, mirroring the signals we noted in yesterday's price behavior. Both 2- and 30-year yields declined substantially, by 12 and 10 basis points to 4.96% and 4.85%, respectively. The equity markets also saw some lift, although the S&P 500 could not hold onto its peak levels for the day and closed with a modest gain of 0.5%. On the commodities front, gold maintained its upward trajectory, consolidating around $1,860 an ounce, while WTI crude oil retreated below the $86 per barrel mark. Meanwhile, the VIX, often referred to as the 'fear gauge,' saw a decline, settling at 17. All of these movements collectively provide a multifaceted snapshot of market sentiment, influenced by a diverse set of catalysts that active investors should closely monitor.
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