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Stock Market Update October 12, 2023

Stock Market Update October 12, 2023 A Mid-Day Dip and Subsequent Partial Recovery Define Today's Session. Today's market landscape was particularly notable for its afternoon downturn, which led to intraday lows plunging to -1.00% for the Dow and a staggering -2.7% for the Russell 2000 by approximately 2:15 PM ET. However, a partial rebound ensued towards the market close. The Dow eventually settled down by 173 points or 0.51%, while both the S&P 500 and the Nasdaq closed with declines of -0.62% and -0.63%, respectively. The small-cap heavy Russell 2000 ended the session down by -2.26%. Today's disappointing 30-year Treasury auction proved to be the catalyst for market-wide frailty as we moved towards the close of the trading session. The auction priced a disconcerting four basis points above the 'When Issued' rate, spurring a 13 basis point rise in the long bond to 4.86%. This created headwinds for the equities market, with the S&P 500 relinquishing 0.6% of its value.

On the commodities front, West Texas Intermediate (WTI) crude oil remained resilient, maintaining a position north of $83 per barrel. Gold also displayed relative strength, settling at $1,869 per ounce. Meanwhile, the Volatility Index (VIX) edged closer to 17, underlining the elevated levels of market uncertainty.


Live Day Trading in Discord

SPY ETF Live Day Trading in Discord October 12, 2023
SPY ETF Live Day Trading in Discord October 12, 2023

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ES Futgures Live Day Trading in Discord October 12, 2023
ES Futures Live Day Trading in Discord October 12, 2023

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