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MARKET RECAP – AUGUST 23, 2023

Written By: Jenny Galeano Gamboa

August 23, 2023

STOCK MARKET

Dow Jones ended at $34,472.98 (+0.54%)

S&P 500 ended at $4,436.01 (+1.10%)

Nasdaq Composite ended at $13,721.03 (+1.59%)

The stock market witnessed gains across all major indexes as investors eagerly await the latest quarterly earnings report from Nvidia, the leading chipmaker that has been riding the wave of the artificial intelligence trend. Investors were optimistic about the potential for strong earnings from Nvidia, which has been the best-performing stock in the S&P 500. Additionally, the decrease in yields, specifically the drop in the benchmark 10-year Treasury yield, contributed to a positive sentiment among investors. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased, with the Nasdaq leading the upward trend.

CRYPTO MARKET

Bitcoin rose by 3.01% with a value of $26,618.60 as of 3:00 PM CST, as stated by Coin Metrics.

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