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MARKET RECAP – OCTOBER 4, 2024

Written By: Jenny Galeano Gamboa

October 4, 2024

STOCK MARKET

Dow Jones ended at $42,352.75 (+0.81%)

S&P 500 ended at $5,751.07 (+0.90%)

Nasdaq Composite ended at $18,137.85 (+1.22%)

The stock market managed to end the week on a positive note despite recent setbacks, as the September jobs report revealed that nonfarm payrolls increased above expectations, while the unemployment rate decreased. These results reassured investors about the health of the economy, and the rally was further fueled by the outperformance of sectors like technology, financials, and small caps. As a result, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite increased, with the latter rising above 1%. Overall, despite the recent geopolitical tensions in the Middle East, which caused uncertainty, the latest strong economic data and the positive sector performances have boosted investors’ optimism in the market.

CRYPTO MARKET

Bitcoin rose by 2.42% for the day, with a value of $62,331.77 as of 3:00 PM CST, as stated by Coin Metrics.

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