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MARKET RECAP – JULY 31, 2023

Written By: Jenny Galeano Gamboa

July 31, 2023

STOCK MARKET

Dow Jones ended at $35,559.53 (+0.28%)

S&P 500 ended at $4,588.96 (+0.15%)

Nasdaq Composite ended at $14,446.02 (+0.21%)

The stock market kicked off the week with modest increases across all major indexes as another busy earnings week began. In addition, the overall market ended the month with a positive trend as the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all experienced a rally in July, with the S&P 500 and Nasdaq notching their fifth consecutive positive months, and the Dow achieving a 3.3% jump. Furthermore, investors optimism was boosted by the recent reports which revealed a strong labor market and a moderating inflation, along with the lastest second-quarter earnings reports, which exceeded expectations. Moreover, this positive trend could continue as positive reports from Amazon and Apple are expected, while economists predict the U.S. economy to have added 200,000 new jobs in July.

CRYPTO MARKET

Bitcoin fell by 0.38% with a value of $29,173.36 as of 3:00 PM CST, as stated by Coin Metrics.

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