Stock Market Update Thursday July 18, 2024 Equity markets experienced broad-based declines, with the S&P 500, Nasdaq 100, and Russell 2000 indices recording losses, although a late-session recovery mitigated the overall negative performance.
Away From Stocks: Treasury yields increased across all maturities, with the two-year note reaching 4.46% and the long bond settling at 4.41%. WTI crude oil prices dipped below $81 per barrel, while gold prices retreated to $2,445 per ounce and bitcoin experienced a decline to $63,600. Market volatility spiked, with the VIX index approaching 16, its highest level since April. The Federal Reserve's balance sheet contracted further, with interest-bearing assets now totaling $7.176 trillion, a decrease of $45 billion compared to the previous month and 19.6% below the March 2022 peak.