Stock Market Update Wednesday August 14, 2024 U.S. equities extended their rally following the release of a favorable Consumer Price Index (CPI) report, which indicated a deceleration in inflationary pressures. The headline inflation figure reached its lowest level since March 2021, bolstering market sentiment and fueling optimism about potential monetary policy easing.
The broad-based S&P 500 index advanced 0.38%, marking its fifth consecutive session of gains and reflecting growing investor confidence. Meanwhile, the tech-heavy Nasdaq Composite eked out a marginal increase, continuing its upward trajectory. In contrast, the small-cap Russell 2000 index underperformed, declining 0.52%, suggesting a divergence in market breadth. Sector performance was led by financials, which surged over 1%, benefiting from the improved economic outlook and expectations of a more favorable interest rate environment. Within the financial sector
Away From Stocks: U.S. 10-year Treasury yields are currently trading at 3.89%. WTI crude futures settled at $76.98 per barrel, down 1.75% on the day. Gold spot prices closed at $2,479 per ounce, marking a 1.12% decline for the session. Meanwhile, the VIX closed at 16.20, aligning with our neutral level.
