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MARKET RECAP – AUGUST 11, 2023

Written By: Jenny Galeano Gamboa

August 11, 2023

STOCK MARKET

Dow Jones ended at $35,281.40 (+0.30%)

S&P 500 ended at $4,464.05 (-0.11%)

Nasdaq Composite ended at $13,644.85 (-0.68%)

The stock market ended the week with mixed results across all major indexes as investors assessed the recent earnings reports as well as the latest inflation data. While the Dow Jones Industrial Average increased due to the rise in shares experienced by Merck & Co and Chevron, the Nasdaq Composite decreased following the selloff in semiconductor stocks, which included Advanced Micro Devices, Nvidia and Micron. The recent decline experienced by the Nasdaq marks the first time since December 2022 in which the index has experienced losses for two consecutive weeks. Moreover, although the S&P 500 did not decrease as low as the Nasdaq, it also closed the week with losses for a second week in a row.

CRYPTO MARKET

Bitcoin fell by 0.07% with a value of $29,365.48 as of 3:00 PM CST, as stated by Coin Metrics.

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