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MARKET RECAP – AUGUST 18, 2023

STOCK MARKET

Dow Jones ended at $34,500.66 (+0.07%)

S&P 500 ended at $4,369.71 (-0.01%)

Nasdaq Composite ended at $13,290.78 (-0.20%)

The stock market ended the week with mixed performances, with two indexes experiencing slight losses. Although the S&P 500 and the Nasdaq Composite experienced slight gains towards the end of the trading session, their performances ended on the negative side, with the S&P 500 remaining almost unchanged. Meanwhile, despite experiencing slight losses throughout the day, the Dow Jones Industrial Average end the trading session with a slight increase. Several factors contributed to this, including disappointing earnings reports from companies like Keysight Technologies, Deere, and Estee Lauder. Major tech companies, such as Meta, Amazon, Microsoft, and Alphabet, also experienced declines throughout the week. These struggles in August have caused concerns among investors, who are now re-evaluating their July optimism, and the market is now questioning the extent to which interest rates need to increase.

CRYPTO MARKET

Bitcoin fell by 6.64% with a value of $26,041.58 as of 3:00 PM CST, as stated by Coin Metrics.

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