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Stock Market Update Tuesday April 23, 2024

Stock Market Update Tuesday April 23, 2024 The bulls retained dominance as stocks rallied 1.2% on the S&P 500, driving the broad index up by around 7% year-to-date.

Away From Stocks: Treasury's witnessed divergent movement, as two-year yields plummeted by 11 basis points to 4.86%, buoyed in part by a well-received $69 billion auction held this afternoon. However, the longer end of the yield curve failed to sustain its early gains, ending the session with minimal change. Meanwhile, WTI crude staged a rebound, surpassing the $83 per barrel mark, while gold initially faced significant selling pressure before recovering to $2,323 per ounce. Additionally, the VIX settled below 16 for the first time since April 11.

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