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Stock Market Update Thursday March 7, 2024

Stock Market Update Thursday March 7, 2024 Stocks roared higher once more ahead of tomorrow’s February payrolls report, with the S&P 500 gaining 1% and the Nasdaq 100 ripping 1.5% to push Wednesday’s selloff further into the rear-view.

Away From Stocks: Two- and 10-year yields fell by five and two basis points, respectively, to 4.5% and 4.09%, with each settling at their lowest levels in nearly a month. WTI crude remained at $79 a barrel, gold rose to $2,159 per ounce to mark its seventh straight daily advance and the VIX finished little changed near 14.5. 

Nvidia has experienced a remarkable 40% surge in value within a mere 15 days. To illustrate the significance of this surge, its market capitalization has expanded to the extent that it now equals the combined market capitalizations of both Tesla and Starbucks.

SPY ETF 5 Minute Chart With Our Algorithm.

ES E-mini Futures 10 Minute Chart With Time Pivots & Floor Trader Pivots.

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