STOCK MARKET

Dow Jones ended at $40,000.90 (+0.62%)

S&P 500 ended at $5,615.33 (+0.55%)

Nasdaq Composite ended at $18,398.45 (+0.63%)

The stock market ended the week with gains across all major indexes, fueled by a combination of sector rotation, promising economic data, and investor optimism regarding future Federal Reserve actions. The Dow Jones Industrial Average reached a new record above 40,000, driven by significant gains in non-tech stocks like Home Depot and Caterpillar. This movement reflects investors’ increased confidence in sectors beyond the technology leaders. Moreover, the broader S&P 500 and the Nasdaq Composite also saw an uptick, buoyed by the decline in the consumer price index, which suggested slowing inflation and reinforced hopes for a potential Federal Reserve rate cut in September. Additionally, the Russell 2000 Index experienced substantial growth as investors anticipated a soft landing for the broader economy, favoring smaller companies. Furthermore, it is worth noting that despite mixed reactions to bank earnings and a slightly hotter-than-expected wholesale inflation reading, the market’s focus remained on the positive signals from the consumer prices report. This optimism extended to some tech favorites like Nvidia, which rebounded after a dip.

CRYPTO MARKET

Bitcoin rose by 0.24% for the day, with a value of $57,642.19 as of 12:00 PM CST, as stated by Coin Metrics.