On Friday, the Nasdaq Composite outperformed the S&P 500 and the Dow Jones Industrial Average, with a 0.2% increase compared to the flat performance of the S&P 500 and a slight 10-point drop for the Dow. It’s a volatile day for the market, with only a small number of S&P 500 stocks expected to rise.
Today marks a triple witching day, where stock options, stock index futures, and stock index options all expire simultaneously. This occurrence, which happens quarterly in March, June, September, and December, tends to lead to increased market volatility.
S&P Global’s latest flash PMI report came in more positively than expected, causing bond yields to rise slightly. As a result, the odds of a rate cut in July decreased to 10.3% from 12.4% on Thursday, according to the CME FedWatch tool.
Article Source
https://www.barrons.com/livecoverage/stock-market-today-062124
