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MARKET RECAP – DECEMBER 15, 2023

STOCK MARKET

Dow Jones ended at $37,305.16 (+0.15%)

S&P 500 ended at $4,719.19 (-0.01%)

Nasdaq Composite ended at $14,813.92 (+0.35%)

The stock market ended the week with mixed performances as the Dow Jones Industrial Average and the Nasdaq Composite closed higher, extending their rally for a seventh straight positive week. closed at record highs. Nonetheless, the S&P 500 did not join the positive trend as it saw a slight slip. Moreover, it is important to remark that despite the gains experienced by the Dow and the Nasdaq, the immediate effect of a sentiment boost from Wednesday’s Federal Reserve meeting wore off, leading to mixed results as the week came to a close. Additionally, although Wall Street was initially buoyed by the news of potentially three interest rate cuts in 2024, comments from New York Fed President John Williams tempered expectations by suggesting that extensive discussions about rate cuts were not taking place at the moment.

CRYPTO MARKET

Bitcoin fell by 1.60% for the day, with a value of $42,235.01 as of 3:00 PM CST, as stated by Coin Metrics.

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