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MARKET RECAP – DECEMBER 12, 2023

Written By: Jenny Galeano Gamboa

December 12, 2023

STOCK MARKET

Dow Jones ended at $36,577.94 (+0.48%)

S&P 500 ended at $4,643.70 (+0.46%)

Nasdaq Composite ended at $14,553.40 (+0.70%)

The stock market experienced gains across all major indexes for a fourth consecutive session due to the positive inflation data released earlier today and the expectations of potential monetary policy easing by the Federal Reserve. As mentioned earlier, the consumer price index increased within the expected range, and the stock market saw record highs, including the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average. Additionally, the six-week run of consecutive market gains and the S&P 500’s surge signify a strong ending to the year for investors. However, despite the positive momentum in the overall market, it is worth noting that the sentiment was not shared by individual stocks, such as Oracle and Macy’s, as they faced declines after failing to meet Wall Street expectations and receiving a downgrade.

CRYPTO MARKET

Bitcoin rose by 1.25% for the day, with a value of $41,204.65 as of 3:00 PM CST, as stated by Coin Metrics.

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