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MARKET RECAP – JULY 18, 2023

Written By: Jenny Galeano Gamboa

July 18, 2023

STOCK MARKET

Dow Jones ended at $34,951.93 (+1.06%)

S&P 500 ended at $4,554.98 (+0.71%)

Nasdaq Composite ended at $14,353.64 (+0.76%)

The stock market witnessed gains across all major indexes for a second day in a row due to the latest earnings reports, which delivered strong and better-than-expected results. As a result, the Dow Jones Industrial Average increased for a seventh day in a row, marking the longest winning streak since March 2021. This increased was due to the rise of shares in Microsoft, which also contributed to the gains experienced by the Nasdaq Composite. In addition, the S&P 500 also joined the upward trend following the rise in companies like Bank of America, Bank of N.Y. Mellon, Morgan Stanley, and PNC Financial.

CRYPTO MARKET

Bitcoin fell by 0.35% with a value of $29,772.00 as of 3:00 PM CST, as stated by Coin Metrics.

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