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MARKET RECAP – AUGUST 30, 2023

Written By: Jenny Galeano Gamboa

August 30, 2023

STOCK MARKET

Dow Jones ended at $34,890.24 (+0.11%)

S&P 500 ended at $4,514.87 (+0.38%)

Nasdaq Composite ended at $14,019.31 (+0.54%)

The stock market experienced gains across all major indexes for a fourth consecutive session as investors assessed the latest U.S. economic data. Despite the disappointing payrolls data released earlier today, traders perceived it as good news for stocks, as it raised hopes that the Federal Reserve would adopt a more accommodative policy stance in the near future. Additionally, strong performances from certain sectors, such as the S&P 500 tech sector led by chipmaker Nvidia and Apple, contributed to the overall market gains. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased.

CRYPTO MARKET

Bitcoin fell by 2.59% with a value of $27,174.79 as of 3:00 PM CST, as stated by Coin Metrics.

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