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MARKET RECAP – FEBRUARY 14, 2024

STOCK MARKET

Dow Jones ended at $38,424.27 (+0.40%)

S&P 500 ended at $5,000.62 (+0.96%)

Nasdaq Composite ended at $15,859.15 (+1.30%)

The stock market had a turn in momentum as all major indexes recouped some losses following a big sell-off. This was due in part to better-than-expected earnings from companies such as Lyft, as well as positive performance from companies like Nvidia. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite increased, with the latter reporting gains of over 1%. Moreover, although hotter-than-anticipated inflation reading led to initial fears that the Federal Reserve may not cut interest rates as early as investors had hoped, some experts still believe that the market may see some corrective action in the near term, but overall do not anticipate a decline in excess of 10%.

CRYPTO MARKET

Bitcoin rose by 5.12% for the day, with a value of $51,888.38 as of 3:00 PM CST, as stated by Coin Metrics.

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