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MARKET RECAP – JUNE 28, 2024

Written By: Jenny Galeano Gamboa

June 28, 2024

STOCK MARKET

Dow Jones ended at $39,118.86 (-0.12%)

S&P 500 ended at $5,460.48 (-0.41%)

Nasdaq Composite ended at $17,732.60 (-0.71%)

The stock market ended the week with losses across all major indexes due to a combination of traders digesting mixed economic data, profit-taking after a strong first half of the year, and specific negative news from companies like Nike, which slashed its full-year guidance. Despite the positive indicators of slowing inflation and improved consumer sentiment, uncertainty around future Federal Reserve rate cuts and broader market volatility, as mentioned by analysts, also contributed to the cautious trading environment. These factors, along with the natural ebb and flow of market dynamics after hitting new intraday highs, led to the declines in the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average.

CRYPTO MARKET

Bitcoin fell by 2.40% for the day, with a value of $59,960.93 as of 3:00 PM CST, as stated by Coin Metrics.

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