STOCK MARKET
Dow Jones ended at $38,834.86 (+0.15%)
S&P 500 ended at $5,487.03 (+0.25%)
Nasdaq Composite ended at $17,862.23 (+0.03%)
The stock market continued to witness gains across all major indexes as the market was buoyed by declining Treasury yields following weaker-than-expected retail sales, which spurred hopes for economic slowing and potential Federal Reserve rate cuts. In addition, investors’ behavior also played a role, with funds staying within the market and rotating into second-tier names, while positive momentum from previous record highs further sustained the bullish trend. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased for a second consecutive trading session. Moreover, the gains experienced by the S&P 500 and the Nasdaq were also due to Nvidia’s meteoric rise as it became the most valuable public company, surging on enthusiasm for AI. Nvidia’s performance had a positive spillover effect on semiconductor stocks, boosting companies like Qualcomm and Micron Technology.
CRYPTO MARKET
Bitcoin fell by 3.52% for the day, with a value of $64,374.29 as of 3:00 PM CST, as stated by Coin Metrics.
