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MARKET RECAP – JULY 21, 2023

Written By: Jenny Galeano Gamboa

July 21, 2023

STOCK MARKET

Dow Jones ended at $35,227.69 (+0.01%)

S&P 500 ended at $4,536.34 (+0.03%)

Nasdaq Composite ended at $14,032.81 (-0.22%)

The stock market ended the week with mixed performances due to investors evaluating the latest corporate earnings results. While some companies exceeded expectations, others reported underwhelming results, leading to a mix of positive and negative reactions in the market. Consequently, during this uneven session, the Nasdaq Composite decreased following the lower-than-expected results from of transportation giant CSX and American Express. Additionally, the upcoming Nasdaq-100 rebalance and the expiration of index and stock options contributed to the volatility and downward pressure on the Nasdaq Composite. On the other hand, although almost unchanged, the S&P 500 and the Dow Jones Industrial Average increased slightly, with the Dow Jones experiencing gains for a tenth consecutive session – a winning streak not seen since August 2017.

CRYPTO MARKET

Bitcoin rose by 0.54% with a value of $28,882.80 as of 3:00 PM CST, as stated by Coin Metrics.

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