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MARKET RECAP – OCTOBER 24, 2024

Written By: Jenny Galeano Gamboa

October 24, 2024

STOCK MARKET

Dow Jones ended at $42,374.36 (-0.33%)

S&P 500 ended at $5,809.86 (+0.21%)

Nasdaq Composite ended at $18,415.49 (+0.76%)

The stock market has witnessed mixed performances because of higher rates and lackluster earnings. While some companies like Tesla and Molina Healthcare saw significant gains after posting positive results, others like IBM and Boeing experienced losses due to missed expectations. Thus, as a result of this, the S&P 500 and the Nasdaq Composite increased, while the Dow Jones Industrial Average decreased. Moreover, despite the gains reported by the S&P 500 and the Nasdaq, it is important to remark that the pressure from rising Treasury yields has dampened equity market enthusiasm, leading to a lack of broad momentum in the market. Overall, the market has been volatile with some stocks performing well and others struggling to meet expectations.

CRYPTO MARKET

Bitcoin rose by 3.03% for the day, with a value of $68,244.74 as of 3:00 PM CST, as stated by Coin Metrics.

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