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MARKET RECAP – JUNE 25, 2024

Written By: Jenny Galeano Gamboa

June 25, 2024

STOCK MARKET

Dow Jones ended at $39,112.16 (-0.76%)

S&P 500 ended at $5,469.30 (+0.39%)

Nasdaq Composite ended at $17,717.65 (+1.26%)

The stock market witnessed mixed performances due to a sharp rebound in Nvidia shares, which lifted the tech-heavy S&P 500 and Nasdaq Composite after a significant sell-off the previous day, contrasted by sector-specific declines that pressured the Dow Jones Industrial Average. Nvidia’s 6.7% gain, along with advances in other major tech stocks like Amazon, Meta, and Alphabet, drove the S&P 500 and Nasdaq higher, underscoring the tech sector’s influence on these indices. Nonetheless, the Dow Jones Industrial Average did not join the upward trend as it fell following the steep declines in non-tech sectors, such as SolarEdge Technologies and Pool Corp. This dynamic reflects an intermarket rotation where investors shifted back to tech after earlier profit-taking, as well as varying sector responses to individual stock announcements and broader market corrections.

CRYPTO MARKET

Bitcoin rose by 3.77% for the day, with a value of $62,024.62 as of 3:00 PM CST, as stated by Coin Metrics.

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