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Stock Market Update Thursday February 1, 2024

Stock Market Update Thursday February, 2024 Stocks promptly reversed yesterday’s steep declines, with the S&P 500 surging higher by 1.3% and the Nasdaq 100 advancing 1.2%. Strong initial reactions to aftermarket earnings from Meta and Amazon are bolstering the major indices after hours, leaving them in good shape for Friday.

Away From Stocks: Treasury's likewise rallied sharply, with two-year yields dropping seven basis points to 4.2%, and the long bond tumbling to 4.1% from 4.22% a day ago. WTI crude slipped below $74 a barrel, while gold ascended to $2,054 per ounce. The VIX settled just below 14.

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