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Today's market
Sr. Market Strategist
October 11, 2024 at 5:30 p.m. EDT
Last week, Q4 got off to a choppy start but the week ended on a positive note following a strong jobs report. On Friday the S&P 500 rallied around 1% recouping the losses throughout the week, closing at the upper end of its recent range between ~5,675 - 5,750, just below its all-time high. However, given such a big upside surprise the equity market response seemed to be tempered by the sharp move higher in Treasury yields. In addition, oil prices had risen nearly 10% during the week driven by a mix of China stimulus optimism and Middle East concerns. This left the VIX hovering around 20 heading into the weekend.
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