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MARKET RECAP – DECEMBER 6, 2024

Written By: Jenny Galeano Gamboa

December 6, 2024

STOCK MARKET

Dow Jones ended at $44,765.71 (-0.28%)

S&P 500 ended at $6,075.12 (+0.25%)

Nasdaq Composite ended at $19,700.26 (+0.81%)

The stock market ended the week with mixed performances as the S&P 500 and Nasdaq Composite managed to recover from yesterday’s losses, and increased to fresh records. This was due to the latest jobs data, which came in slightly better than expected. As reported this morning, November labor report showed a decent increase in nonfarm payrolls but also revealed a softening labor market, and this gave traders confidence in a potential rate cut. Nevertheless, this data was not strong enough to deter the Federal Reserve from cutting rates later in the month, and as a result, the Dow Jones Industrial Average slipped, indicating some hesitancy among investors.

CRYPTO MARKET

Bitcoin rose by 2.75% for the day, with a value of $101,576.22 as of 3:00 PM CST, as stated by Coin Metrics.

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