STOCK MARKET
Dow Jones ended at $38,460.92 (-0.11%)
S&P 500 ended at $5,071.63 (+0.02%)
Nasdaq Composite ended at $15,712.75 (+0.10%)
The stock market witnessed mixed performances due to interest rate fears dampening earnings enthusiasm. The concerning sentiment was due to the latest rise in bond yields, and as a result of this, the Dow Jones Industrial Average fell, while the S&P 500 and the Nasdaq Composite stayed almost unchanged, but still on the positive side. The 10-year Treasury note yield saw a substantial increase, leading to concerns about potential negative impacts on the market. Additionally, fears of inflation not easing as quickly as expected raised concerns that the Federal Reserve may not cut interest rates. Nonetheless, it is worth to remark that despite this, corporate earnings have been strong, with a majority of companies beating Wall Street estimates. Moreover, as this week progresses, investors are still focused on key economic data releases and upcoming earnings reports from major companies like Meta, Microsoft, and Google.
CRYPTO MARKET
Bitcoin fell by 3.85% for the day, with a value of $63,976.08 as of 3:00 PM CST, as stated by Coin Metrics.
