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MARKET RECAP – APRIL 30, 2024

STOCK MARKET

Dow Jones ended at $37,815.92 (-1.49%)

S&P 500 ended at $5,035.69 (-1.57%)

Nasdaq Composite ended at $15,657.82 (-2.04%)

The stock market ended the month with losses across all major indexes due to higher-than-expected wage data raising fresh inflation concerns. This led to a sell-off in stocks as investors worried about the potential for the Federal Reserve to raise interest rates in response to inflation. The Fed’s upcoming rate decision and the possibility of a more restrictive monetary policy added to the market’s unease. As a result, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all fell significantly. Moreover, disappointing earnings reports from companies like McDonald’s and a more selective consumer due to higher prices also contributed to the negative sentiment in the market. Nonetheless, it is worth noting that despite the setbacks we witnessed throughout the month due to inflation concerns and potential Fed actions, the S&P 500 has still experienced significant gains since its low point in October.

CRYPTO MARKET

Bitcoin fell by 5.21% for the day, with a value of $59,488.18 as of 3:00 PM CST, as stated by Coin Metrics.

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