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MARKET RECAP – AUGUST 14, 2023

STOCK MARKET

Dow Jones ended at $35,307.63 (+0.07%)

S&P 500 ended at $4,489.72 (+0.52%)

Nasdaq Composite ended at $13,788.33 (+1.05%)

The stock market began the week with gains across all major indexes, following the rough performances it has been witnessing in the past two weeks. Let’s remember that the previous week the stock market saw declines in the S&P 500 and Nasdaq, with the latter experiencing its first two-week losing streak of the year, nevertheless, both indexes have now made a significant comeback and joined the Dow Jones Industrial Average in the upward trend. This week’s market performance will likely be influenced by earnings reports from significant retail companies such as Home Depot, Target, and Walmart, as well as the release of retail sales data for July. Moreover, while the market is currently facing some uncertainty, Oppenheimer chief investment strategist John Stoltzfus believes that the recent retracement is a pause that refreshes rather than a signal of the end of the bull market.

CRYPTO MARKET

Bitcoin fell by 0.34% with a value of $29,324.44 as of 3:00 PM CST, as stated by Coin Metrics.

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