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MARKET RECAP – JULY 13, 2023

STOCK MARKET

Dow Jones ended at $34,395.14 (+0.14%)

S&P 500 ended at $4,510.04 (+0.85%)

Nasdaq Composite ended at $14,136.57 (+1.58%)

The stock market witnessed positive performances across all major indexes for a fourth consecutive session as the latest PPI report showed a lower-than-expected increase in prices, easing concerns about aggresive interest rate hikes by the Federal Reserve. Additionally, positive earnings reports from companies like Palo Alto Networks, MGM Resorts, and Alphabet, and the lower-than-expected weekly jobless claims number further boosted investor confidence. Consequently, the S&P 500 and the Nasdaq Composite increased, reaching their highest levels in 2023. Meanwhile, although the Dow Jones Industrial Average did not experience such gains, it still increased slightly.

CRYPTO MARKET

Bitcoin rose by 4.53% with a value of $31,663.47 as of 3:00 PM CST, as stated by Coin Metrics.

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