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MARKET RECAP – OCTOBER 2, 2024

Written By: Jenny Galeano Gamboa

October 2, 2024

STOCK MARKET

Dow Jones ended at $42,196.52 (+0.09%)

S&P 500 ended at $5,709.54 (+0.01%)

Nasdaq Composite ended at $17,925.12 (+0.08%)

The stock market saw a noteworthy shift from yesterday’s losses despite the escalating tensions in the Middle East. The Dow Jones Industrial Average, the S&P 500, and Nasdaq Composite all managed to display remarkable resilience by managing to bounce back from earlier losses. This positive momentum was bolstered by various factors such as cooling oil prices, promising economic data like the ADP’s private payroll growth report, and the anticipation surrounding Friday’s upcoming nonfarm payroll report. Moreover, in the midst of the current volatile landscape, tech giant Nvidia soared while companies like Nike and Tesla faced challenges. Looking ahead, all eyes are on how the Friday’s nonfarm payroll report will influence the Federal Reserve’s future rate decisions.

CRYPTO MARKET

Bitcoin fell by 2.65% for the day, with a value of $60,220.01 as of 3:00 PM CST, as stated by Coin Metrics.

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