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MARKET RECAP – FEBRUARY 8, 2024

STOCK MARKET

Dow Jones ended at $38,726.33 (+0.13%) S&P 500 ended at $4,997.91 (+0.06%) Nasdaq Composite ended at $14,904.81 (+0.61%)

The stock market continued its upward trend for one more day due to strong earnings reports from companies such as Disney and Arm, which boosted investor confidence in the market’s potential for strong corporate profits and growth. Additionally, the continued rise in mega-cap technology stocks contributed to the market’s positive momentum. Despite concerns about the narrow breadth of leadership in the market and uncertainty surrounding rate cuts, the positive earnings reports and overall positive sentiment allowed the market to touch new highs, with the S&P 500 nearing the 5,000 milestone. In addition, the Dow Jones Industrial Average and the Nasdaq Composite also joined the upward trend.

CRYPTO MARKET

Bitcoin rose by 3.16% for the day, with a value of $45,510.51 as of 3:00 PM CST, as stated by Coin Metrics.

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