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MARKET RECAP – DECEMBER 7, 2023

Written By: Jenny Galeano Gamboa

December 7, 2023

STOCK MARKET

Dow Jones ended at $36,117.38 (+0.17%)

S&P 500 ended at $4,585.59 (+0.80%)

Nasdaq Composite ended at $14,339.99 (+1.37%)

The stock market experienced gains across all major indexes as traders looked ahead to the upcoming jobs report and showed optimism despite a recent three-day losing streak. The S&P 500 and Nasdaq Composite climbed, and stocks like Google-parent Alphabet, Nvidia, and AMD recorded notable increases. Mixed data releases related to the job market, including lower-than-expected weekly jobless claims and declining continuing jobless claims, provided positive signals. Additionally, hopes for a cooling labor market and the Federal Reserve’s decision to pause interest rate hikes contributed to the positive investor sentiment, ultimately leading to gains in the market, including the Dow Jones Industrial Average.

CRYPTO MARKET

Bitcoin fell by 1.51% for the day, with a value of $43,278.19 as of 3:00 PM CST, as stated by Coin Metrics.

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