Stocks experienced a gloomy start to 2024 as the Nasdaq Composite ended lower for the fifth consecutive day and the S&P 500 logged its fourth straight day of declines. The performance of stocks in January often serves as a barometer for the rest of the year, although some analysts believe this rough start was somewhat anticipated following a strong fourth quarter.

Bond yields witnessed an uptick after the release of new data indicating the resilience of the labor market. Eyes are now turning towards tomorrow's release of the monthly report on nonfarm payrolls, which is highly anticipated in Wall Street circles.

The majority of stocks observed a decline, with the Nasdaq logging its worst two-day start to the year since 2005. However, the Dow industrials managed to eke out a modest gain of about 10 points.

In terms of earnings, shares of Conagra and Walgreens ended lower following the release of their quarterly reports. This negative outcome may have contributed to the overall sentiment of the market.

On a more positive note, the weekly jobless claims came in at the lowest level since mid-October, suggesting that the labor market remains robust and strong.

Looking ahead, investors can gain valuable insights and prepare for upcoming events by listening to our Sunday podcast, WSJ's Take On the Week. Additionally, staying informed about the markets is made easier with our free weekday morning and evening newsletters, helping readers become smarter about investment decisions.

As the stock market endures a shaky start to the new year, investors are closely monitoring the constantly evolving dynamics of the global economy, corporate earnings, and market indicators to make informed decisions regarding their investments.