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Stock Market Update Tuesday June 4, 2024

Stock Market Update Tuesday June 4, 2024 Equity markets demonstrated resilience today as the S&P 500 index rebounded from a mid-session dip to close in positive territory for the third consecutive session, showcasing continued bullish momentum.  

Away From Stocks: The bond market rally persisted, with yields on the 2-year and 30-year Treasury notes declining by five and seven basis points respectively, settling at 4.77% and 4.48%. In the commodities sector, WTI crude oil prices continued their downward trajectory, reaching new four-month lows near $73 per barrel. Gold prices also experienced a decline, falling to $2,326 per ounce. Meanwhile, Bitcoin rebounded above the $70,000 mark, while the CBOE Volatility Index (VIX) remained relatively stable near 13.

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