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MARKET RECAP – JULY 17, 2024

Written By: Jenny Galeano Gamboa

July 17, 2024

STOCK MARKET

Dow Jones ended at $41,198.08 (+0.59%)

S&P 500 ended at $5,588.27 (-1.39%)

Nasdaq Composite ended at $17,996.93 (-2.77%)

The stock market witnessed mixed performances as investors shifted their focus away from high-flying technology shares towards more rate-sensitive names. Megacap technology stocks, including companies like Meta, Apple, Netflix, and Microsoft, faced selling pressure, with semiconductor stocks particularly affected by possible trade restrictions. This caused the S&P 500 and Nasdaq Composite to decline. Nevertheless, the Dow Jones Industrial Average was not affected by this trend as it saw gains driven by strong performance in UnitedHealth.

CRYPTO MARKET

Bitcoin fell by 0.60% for the day, with a value of $64,576.15 as of 3:00 PM CST, as stated by Coin Metrics.

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