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MARKET RECAP – JULY 23, 2024

Written By: Jenny Galeano Gamboa

July 23, 2024

STOCK MARKET

Dow Jones ended at $40,358.09 (-0.14%)

S&P 500 ended at $5,555.74 (-0.16%)

Nasdaq Composite ended at $17,997.35 (-0.06%)

The stock market experienced losses across all major indexes as traders prepared for earnings reports from major technology companies. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all closed slightly lower, with technology stocks rebounding from last week’s sell-off. Despite some companies posting strong earnings, others like UPS and General Motors fell short of expectations, causing their stock prices to drop. The market also saw a shift to small-cap stocks as investors anticipate the Federal Reserve lowering interest rates, which could benefit smaller and more cyclically oriented companies. Overall, the combination of earnings reports, economic data, and political developments continue to drive investor activity and impact market performance.

CRYPTO MARKET

Bitcoin fell by 3.64% for the day, with a value of $65,517.69 as of 3:00 PM CST, as stated by Coin Metrics.

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