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MARKET RECAP- 23 OCTOBER 2023

Written By: Jenny Galeano Gamboa

October 23, 2023

STOCK MARKET

Dow Jones ended at $32,936.41 (-0.58%)

S&P 500 ended at $4,217.04 (-0.17%)

Nasdaq Composite ended at $13,018.33 (+0.27%)

The stock market began the week with mixed performances as investors anticipate the release of corporate earnings from tech industry giants, boosting the Nasdaq Composite slightly. Nonetheless, the positive sentiment was not shared by the Dow Jones Industrial Average and the S&P 500 as both indexes decreased. This downward movement can be attributed to the rise in the benchmark 10-year Treasury note yield, which briefly climbed back above the key 5% level, indicating higher interest rates. Furthermore, specific stock movements also influenced the overall performance. Chevron slipped due to news of its acquisition of peer Hess in an all-stock deal. Walgreens, on the other hand, saw an increase after receiving an upgrade from JPMorgan, and online security stock Okta fell following a data breach.

CRYPTO MARKET

Bitcoin rose by 5.04% with a value of $31,392.77 as of 3:00 PM CST, as stated by Coin Metrics.

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