STOCK MARKET
Dow Jones ended at $39,765.64 (+1.04%)
S&P 500 ended at $5,434.43 (+1.68%)
Nasdaq Composite ended at $17,187.61 (+2.43%)
The stock market rallied today, with all major indexes increasing significantly as investor confidence was boosted by the latest tame inflation data. As mentioned earlier, the producer price index (PPI) showed a modest 0.1% increase last month, below expectations, which indeed eased concerns about rising inflation. As a result, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all reported notable gains, with the latter rising by over 2%. Moreover, the positive economic data, combined with the upcoming consumer price index report (CPI), which is also expected to reveal a slight uptick, helped the market move closer to last month’s record levels, with the S&P 500 now within 5% of its previous high. Furthermore, the recent volatility has subsided, with the VIX dropping below 20, which signals a more stable market environment. Overall, market sentiment is optimistic, with expectations of a continued upward trend in the coming months, though investors are advised to remain vigilant in the face of possible fluctuations.
CRYPTO MARKET
Bitcoin rose by 3.08% for the day, with a value of $60,851.50 as of 3:00 PM CST, as stated by Coin Metrics.
