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MARKET RECAP, APRIL 5, 2024

STOCK MARKET

Dow Jones ended at $39,904.04 (+0.80%)

S&P 500 ended at $5,204.34 (+1.11%)

Nasdaq Composite ended at $16,248.52 (+1.24%)

The stock market ended on a positive momentum due to a stronger-than-expected jobs report that showed job growth, which reaffirmed the strength of the economy and alleviated fears of a recession. Investors were encouraged by the robust employment growth and wage increases, which supported the case for further corporate earnings growth. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased, with the last two reporting gains of over 1%. Nevertheless, despite this, it worth noting that all three major indexes reported a losing week, and this was mainly because the market had experienced selling pressure throughout the week, driven by conflicting statements from Federal Reserve officials regarding interest rates and inflation.

CRYPTO MARKET

Bitcoin fell by 1.99% for the day, with a value of $67,360.95 as of 3:00 PM CST, as stated by Coin Metrics.

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