Stock Market Update
06-Aug-24 10:30 ET
Yen weakens against dollar, support upside moves
Dow +338.83
at 39042.10,
Nasdaq +116.66
at 16316.75,
S&P +55.46
at 5241.79
[BRIEFING.COM] The major indices moved to new session highs. The Russell 2000 has joined the rebound, sporting a 0.7% gain.
Yesterday's sharp decline in equities was partially due to the yen's rapid strengthening against the dollar, which precipitated the plunge in Japan's Nikkei. The yen has weakened slightly against the dollar today, acting as support for US equities and helping drive a 10% move higher in the Nikkei. The USD/JPY pair trade is +0.3% to 144.65.
Also, the CBOE Volatility Index, which spiked above 65.00 yesterday before returning to the 35.00 area, pulled back to 28.33 today.
