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MARKET RECAP – DECEMBER 14, 2023

STOCK MARKET

Dow Jones ended at $37,248.35 (+0.43%)

S&P 500 ended at $4,719.55 (+0.26%)

Nasdaq Composite ended at $14,761.56 (+0.19%)

The stock market experienced gains across all major indexes for a sixth consecutive session due to the 10-year Treasury tumbling below 4% and the surprise increase in retail sales, which fueled hopes for a soft economic landing, hence, boosting investor confidence. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased. Additionally, the Federal Open Market Committee’s indication of potential rate cuts for 2024 and a dovish pivot by the Fed added to the positive sentiment in the market. Moreover, specific sectors, such as solar stocks, also contributed to the gains, with the Invesco Solar ETF climbing more than 8%.

CRYPTO MARKET

Bitcoin rose by 0.47% for the day, with a value of $42,981.71 as of 3:00 PM CST, as stated by Coin Metrics.

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