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MARKET RECAP – MARCH 21, 2024

Written By: Jenny Galeano Gamboa

March 21, 2024

STOCK MARKET

Dow Jones ended at $39,781.37 (+0.68%)

S&P 500 ended at $5,241.53 (+0.32%)

Nasdaq Composite ended at $16,401.84 (+0.20%)

The stock market experienced gains across all major indexes for a fourth consecutive day due to positive sentiment surrounding the Federal Reserve’s expected interest rate cuts. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, all increased. Despite concerns about the potential for rate cuts, traders remained confident in the Fed’s commitment to easing borrowing costs, leading to a bullish market sentiment. This optimism was fueled by strong earnings reports from companies like Micron Technology, as well as the overall tech sector outperforming. In addition, industrial stocks also saw gains, contributing to the overall positive momentum in the market.

CRYPTO MARKET

Bitcoin fell by 0.85% for the day, with a value of $65,092.26 as of 3:00 PM CST, as stated by Coin Metrics.

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