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Stock Market Update Wednesday June 12, 2024

Stock Market Update Wednesday June 12, 2024 Equities surged on the back of a milder-than-anticipated May Consumer Price Index (CPI) report, although they pared some gains later in the session, resulting in the S&P 500 closing 0.85% higher and boasting year-to-date gains of almost 15%. 

Away From Stocks: Treasury yields also experienced a sharp decline but partially recovered, with the 2-year and 30-year yields settling at 4.75% and 4.47%, respectively, both down six basis points for the day. WTI crude oil surpassed $78 per barrel, gold inched up for a third consecutive day to $2,321 per ounce, bitcoin remained relatively stable at $67,500, and the VIX (volatility index) dropped nearly a point to 12.

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