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MARKET RECAP – JULY 10, 2024

Written By: Jenny Galeano Gamboa

July 10, 2024

STOCK MARKET

Dow Jones ended at $39,721.36 (+1.09%)

S&P 500 ended at $5,633.91 (+1.02%)

Nasdaq Composite ended at $18,647.45 (+1.18%)

The stock market witnessed gains across all major indexes, with the S&P 500 breaking above its previous record, driven by substantial increases in Big Tech and semiconductor stocks. The broad market index saw a notable rise, while the Nasdaq Composite reached a new peak, and the Dow Jones Industrial Average also experienced a significant boost. Leading the charge, Taiwan Semiconductor surged on strong quarterly revenue, with Nvidia also rising amid its ongoing AI dominance. In addition, investors are also eagerly anticipating recent CPI data and are optimistic about potential rate cuts following comments from Federal Reserve Chair Jerome Powell.

CRYPTO MARKET

Bitcoin fell by 0.66% for the day, with a value of $57,393.36 as of 3:00 PM CST, as stated by Coin Metrics.

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