STOCK MARKET
Dow Jones ended at $38,711.29 (+0.35%)
S&P 500 ended at $5,291.34 (+0.15%)
Nasdaq Composite ended at $16,857.05 (+0.17%)
The stock market witnessed gains across all major indexes mainly due to investors looking for a catalyst to drive market movement. The focus is on the upcoming nonfarm payrolls report for May, with investors hoping for a weak enough labor market to prompt interest rate cuts from the central bank. Additionally, employment data showing lower-than-expected job vacancies and an increased likelihood of two rate cuts this year also contributed to the positive market sentiment. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased slightly. However, it is worth remarking that doubts remain about the likelihood of an interest rate cut due to inflation concerns, particularly in the services sector. Overall, the market is expected to remain relatively flat until more information is available from the upcoming jobs report.
CRYPTO MARKET
Bitcoin rose by 1.94% for the day, with a value of $70,438.56 as of 3:00 PM CST, as stated by Coin Metrics.
