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MARKET RECAP – JUNE 7, 2024

Written By: Jenny Galeano Gamboa

June 7, 2024

STOCK MARKET

Dow Jones ended at $38,798.99 (-0.22%)

S&P 500 ended at $5,346.99 (-0.11%)

Nasdaq Composite ended at $17,133.13 (-0.23%)

The stock market ended the week with losses across all major indexes because the stronger-than-expected jobs report caused investors to reassess their hopes for a rate cut by the Federal Reserve. With the labor market showing continued resilience and the economy strong, Wall Street shifted focus from potential rate cuts to the strong fundamentals of the economy. This shift in sentiment led to a downward trend in the stock market, despite all three major averages still being on pace for a winning week.

CRYPTO MARKET

Bitcoin fell by 2.22% for the day, with a value of $69,123.94 as of 3:00 PM CST, as stated by Coin Metrics.

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