STOCK MARKET
Dow Jones ended at $43,449.90(-0.61%)
S&P 500 ended at $6,050.61 (-0.39%)
Nasdaq Composite ended at $20,109.06 (-0.32%)
The stock market witnessed losses across all major indexes due to uncertainty surrounding the Federal Reserve’s December interest rate decision. The Dow Jones Industrial Average posted a nine-day losing streak, its longest since 1978, leading to a drop in the S&P 500 and Nasdaq Composite as well. Traders are awaiting the Fed’s policy decision and will be closely monitoring Fed Chair Jerome Powell’s press conference for clues about future rate cuts. The market is expecting a quarter percentage point cut in interest rates, but the Fed’s language and tone could impact stock performance. Nevertheless, it is worth noting that despite the potential volatility, some analysts believe that any immediate effects of the Fed’s decision may be short-lived. Moreover, earnings reports from companies like General Mills, Micron Technology, and Lennar will also play a role in market movements.
CRYPTO MARKET
Bitcoin rose by 0.38% for the day, with a value of $106,562.00 as of 3:00 PM CST, as stated by Coin Metrics.
