--- title: "Stock Market Today: October 9, 2024" description: The futures markets have changed little following a largely positive move in the stock market yesterday. Little economic news will be released before the open, suggesting that changes in trader sentiment and news releases will probably drive trading activity. image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: October 9, 2024 October 9, 2024 The futures markets have changed little following a largely positive move in the stock market yesterday. Little economic news will be released before the open, suggesting that changes in trader sentiment and news releases will probably drive trading activity. Later today, the Federal Reserve will release the minutes from its most recent Federal Open Market Committee (FOMC) meeting, which should give traders further insight into its decision-making regarding future interest-rate policy. Elsewhere, we anticipate that the market may be affected by the expected landfall of Hurricane Milton on the west coast of Florida this evening. Several companies have already stated that operations would be affected by the storm, including those in the tourism, air travel, energy transportation, and cruise industries. The stock market rose early in the trading session on Tuesday following weak market action on Monday. A wide rebound occurred across most of the market, as a majority of sectors finished in the green, and traders largely bought stocks throughout the session. Overall, the S&P 500 rose 55 points (up 0.97%), the NASDAQ increased 259 points (up 1.45%), and the Dow Jones Industrial Average was higher by 126 points (up 0.30%). Market breadth was around even on the day, with advancers and decliners not differing all that much. Technology stocks were amongst the best performers on the day, while energy issues were amongst the weakest. In commodity news, oil prices fell yesterday, giving back some of the gains of recent days following an escalation in geopolitical risk. Additionally, fears resurfaced about the levels of demand from China following a rout in those markets. Elsewhere, U.S. Treasury bond yields generally were mixed yesterday, with short-term rates falling while long-term rates increased. This caused a steepening of the yield curve, which is usually a positive for banks that borrow short and lend long. The Chicago Board Options Exchange Volatility Index, or VIX, commonly known as the fear index, declined yesterday as traders demanded less option protection. Several economic reports will be released in the days ahead. This includes initial jobless claims and the core- and non-core Consumer Price Indices (CPI) for September on Thursday. On Friday, the core- and non-core Producer Price Indices (PPI), along with the preliminary University of Michigan’s Consumer Sentiment Index for October, are on the docket. Additionally, several Federal Reserve regional presidents are slated to give remarks on the economy in the days ahead. Elsewhere, earnings season will kick off later this week, with several large diversified financial institutions reporting third-quarter results and outlooks. - John E. Seibert III *At the time of this article’s writing, the author did not hold positions in any of the companies mentioned.* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. 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