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MARKET RECAP – AUGUST 21, 2023

STOCK MARKET

Dow Jones ended at $34,463.69 (-0.11%)

S&P 500 ended at $4,399.77 (+0.69%)

Nasdaq Composite ended at $13,497.59 (+1.56%)

The stock market began the week witnessing mixed performances, with two major indexes experiencing gains despite treasury bills reaching levels not seen since November 2007. The Nasdaq Composite and the S&P 500 increased following the strong earnings reported by tech company Palo Alto Networks, the rise in shares for Nvidia, Tesla and Meta, and the positive performance of the S&P 500 tech sector. Nevertheless, despite remaining almost unchanged, the Dow Jones Industrial Average did not join the upward trend and ended thee trading session with slight losses. Moreover, there are still concerns about the rising Treasury yields, which could put downward pressure on the market in the coming days. Finally, investors are now eagerly awaiting an address from Federal Reserve Chair Jerome Powell at an annual symposium later this week.

CRYPTO MARKET

Bitcoin fell by 0.01% with a value of $26,124.68 as of 3:00 PM CST, as stated by Coin Metrics.

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