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MARKET RECAP – JUNE 27, 2024

Written By: Jenny Galeano Gamboa

June 27, 2024

STOCK MARKET

Dow Jones ended at $39,164.06 (+0.09%)

S&P 500 ended at $5,482.87 (+0.09%)

Nasdaq Composite ended at $17,858.68 (+0.30%)

The stock market witnessed gains across all major indexes mainly due to trader optimism surrounding forthcoming inflation data. There was anticipation that May’s core personal consumption expenditures (PCE) price index would indicate easing inflation, thus, increasing the likelihood that the Federal Reserve might lower interest rates later in the year. Despite some individual stocks like Micron, Nvidia, Levi Strauss, and Walgreens experiencing declines, the overall market was buoyed by the expectation that cooler inflation data could provide a positive economic outlook. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite increased.

CRYPTO MARKET

Bitcoin fell by 0.85% for the day, with a value of $61,367.52 as of 3:00 PM CST, as stated by Coin Metrics.

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