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MARKET RECAP – MARCH 7, 2024

Written By: Jenny Galeano Gamboa

March 7, 2024

STOCK MARKET

Dow Jones ended at $39,791.35 (+0.34%)

S&P 500 ended at $5,157.36 (+1.03%)

Nasdaq Composite ended at $16,273.38 (+1.51%)

The stock market witnessed gains across all major indexes due to optimism over easing inflation and gains in the technology sector. As a result, the Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite increased, with the last two reaching record highs due to tech and communication services stocks leading the way. The European Central Bank’s announcement of lower inflation forecasts and the expectation of interest rate cuts from the Federal Reserve also contributed to investor confidence. Additionally, positive performances from companies like Intel, Nvidia, and Apple further boosted market sentiment. Moreover, focus is now on tomorrow’s U.S. jobs report, which will give further insights into the state of the labor market.

CRYPTO MARKET

Bitcoin rose by 0.62% for the day, with a value of $67,613.29 as of 3:00 PM CST, as stated by Coin Metrics.

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