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MARKET RECAP – DECEMBER 6, 2023

Written By: Jenny Galeano Gamboa

December 6, 2023

STOCK MARKET

Dow Jones ended at $36,054.43 (-0.19%)

S&P 500 ended at $4,549.34 (-0.39%)

Nasdaq Composite ended at $14,146.71 (-0.58%)

The stock market experienced losses across all major indexes as investors responded to data indicating falling inflation and awaited the looming jobs report due on Friday. Despite an initial boost from positive indicators such as decreased labor costs and increased productivity, concerns about potential economic recession and the impact of Federal Reserve policy on inflation and the job market led to a retreat in the market. Mixed results from the latest ADP report contributed to uncertainty about the market’s direction, with questions arising about whether the late 2023 rally was pausing or if the market had experienced excessive growth. Ultimately, these concerns and uncertainties led to the losses experienced by the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite.

CRYPTO MARKET

Bitcoin rose by 0.22% for the day, with a value of $43,756.48 as of 3:00 PM CST, as stated by Coin Metrics.

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