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MARKET RECAP – MARCH 12, 2024

Written By: Jenny Galeano Gamboa

March 12, 2024

STOCK MARKET

Dow Jones ended at $39,005.49 (+0.61%)

S&P 500 ended at $5,175.27 (+1.12%)

Nasdaq Composite ended at $16,265.64 (+1.54%)

The stock market experienced gains across all major indexes due to fresh U.S. inflation data being in line with expectations. This cleared the way for investors to resume buying high-flying tech names, such as Nvidia and Meta Platforms. The Dow Jones, S&P 500, and Nasdaq all saw increases, with shares of companies like Nvidia, Microsoft, Meta, and Oracle performing well. The consumer price index increase was in line with forecasts, and investors were not overly concerned about the report changing expectations of the Federal Reserve cutting rates in June. Looking ahead, investors are now focusing on the producer price index report and the Fed’s next monetary policy meeting later this month.

CRYPTO MARKET

Bitcoin fell by 1.23% for the day, with a value of $71,404.03 as of 3:00 PM CST, as stated by Coin Metrics.

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