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MARKET RECAP – AUGUST 30, 2024

Written By: Jenny Galeano Gamboa

August 30, 2024

STOCK MARKET

Dow Jones ended at $41,563.08 (+0.55%)

S&P 500 ended at $5,648.40 (+1.01%)

Nasdaq Composite ended at $17,713.62 (+1.13%)

The stock market finished the last trading session of August on a very positive note due to the Dow Jones Industrial Average posting a fresh record high and the S&P 500 posting its fourth straight winning month. In addition, the Nasdaq Composite also reported gains of over 1%. The positive momentum witnessed across the three major indexes was due to the latest inflation data, which revealed that it is in line with economists’ estimates. In addition, the surge in consumer staples, real estate, and health care sectors also helped lift the market in August after a volatile start to the month. Overall, investors are feeling optimistic about a potential soft landing and less aggressive rate cuts by the Federal Reserve.

CRYPTO MARKET

Bitcoin fell by 1.05% for the day, with a value of $58,764.54 as of 3:00 PM CST, as stated by Coin Metrics.

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