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MARKET RECAP – FEBRUARY 15, 2024

STOCK MARKET

Dow Jones ended at $38,773.12 (+0.91%)

S&P 500 ended at $5,029.73 (+0.58%)

Nasdaq Composite ended at $15,906.17 (+0.30%)

The stock market experienced gains across all major indexes for a second consecutive day primarily due to lower Treasury yields leading to a late-day rally that helped offset steep losses from earlier in the week. As a result, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all reported gains. In addition, the positive performances of key companies such as Tesla, Meta Platforms, Wells Fargo and Tripavisor, also contributed to the S&P 500’s and the Nasdaq’s upward trajectory. Nonetheless, despite ending in the positive side, the Nasdaq was the index with the lowest gains, and this could have been due to the decline in Cisco shares after it announced layoffs and weak sale projections. Moreover, it is worth noting that mixed economic indicators and earnings reports throughout the week have prompted a sentiment of cautious optimism among investors.

CRYPTO MARKET

Bitcoin fell by 0.19% for the day, with a value of $51,692.64 as of 3:00 PM CST, as stated by Coin Metrics.

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