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MARKET RECAP – AUGUST 31, 2023

STOCK MARKET

Dow Jones ended at $34,721.91 (-0.48%)

S&P 500 ended at $4,507.66 (-0.16%)

Nasdaq Composite ended at $14,034.97 (+0.11%)

The stock market ended August with mixed performances with two major indexes experiencing losses. After four consecutive sessions of gains, the Dow Jones Industrial Average and the S&P 500 decreased slightly, while the Nasdaq Composite witnessed a small gain. August has been a tough month for the market, with all three major indexes indicating some hesitation among investors. Nevertheless, the Dow, the S&P 500, and the Nasdaq all managed to trim their monthly losses due to the recent upward trend. In addition, although the Dow ended this month on the negative side, its losses had some relief following Salesforce’s better-than-expected second-quarter results and third-quarter guidance. Moreover, looking ahead, investors are eagerly awaiting the non-farm payroll data set to be released tomorrow morning, and there is hope that the report will indicate a slowdown in the economy, potentially giving the central bank a reason to pause benchmark interest rate hikes.

CRYPTO MARKET

Bitcoin fell by 4.09% with a value of $26,127.00 as of 3:00 PM CST, as stated by Coin Metrics.

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