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MARKET RECAP – JUNE 14, 2024

STOCK MARKET

Dow Jones ended at $38,589.16 (-0.15%)

S&P 500 ended at $5,431.60 (-0.04%)

Nasdaq Composite ended at $17,688.88 (+0.12%)

The stock market ended the week with mixed performances following the decline in consumer sentiment reported by the University of Michigan’s Survey of Consumers. This, combined with profit-taking after a strong rally and concerns about inflation, led to a slight pullback in the S&P 500 and Dow Jones Industrial Average. However, the Nasdaq Composite managed to eke out a record close and notched a 3% weekly gain. Nasdaq’s gains were due to hopes for cooling inflation, as well as the positive earnings report from Adobe also contributed to the mixed performances throughout the week. Moreover, the Dow was pulled down by the disappointing earnings from Caterpillar, while Carnival, Norwegian cruise line and United Airlines were the biggest laggards in the S&P 500.

CRYPTO MARKET

Bitcoin fell by 1.62% for the day, with a value of $65,595.85 as of 3:00 PM CST, as stated by Coin Metrics.

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