STOCK MARKET
Dow Jones ended at $37,306.02 (+0.00%)
S&P 500 ended at $4,740.56 (+0.45%)
Nasdaq Composite ended at $14,904.81 (+0.61%)
The stock market began the week on a positive note, with the S&P 500 and Nasdaq Composite continuing their winning streak. Factors contributing to this momentum included the performance of specific sectors such as communication services, strong gains in mega-cap tech companies, and a surge in U.S. Steel shares following a major acquisition deal. In addition, although the Dow Jones Industrial Average was unchanged, it ended on the positive side, joining the other two indexes. Moreover, investor sentiment was also influenced by the Federal Reserve’s indication of expected short-term interest rate cuts in 2024 due to cooling inflation, leading to lower treasury yields. Furthermore, the market was further supported by decreasing inflation, trending lower interest rates, and stabilized earnings, providing a constructive backdrop for equities. However, it is worth noting that some concerns remain for the upcoming year, particularly regarding potential weaknesses in earnings forecasts and the already elevated valuations of certain stocks.
CRYPTO MARKET
Bitcoin fell by 0.17% for the day, with a value of $42,010.80 as of 3:00 PM CST, as stated by Coin Metrics.
