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MARKET RECAP – MARCH 22, 2024

Written By: Jenny Galeano Gamboa

March 22, 2024

STOCK MARKET

Dow Jones ended at $39,475.90 (-0.77%)

S&P 500 ended at $5,234.18 (-0.14%)

Nasdaq Composite ended at $16,428.82 (+0.16%)

The stock market ended the week with mixed performances with the  Dow Jones Industrial Average and the S&P 500 falling, while the Nasdaq Composite outperformed. Nonetheless, despite the Dow slipping, it is important to remark that it still managed to have its best week of the year with healthy gains. In addition, although there were mixed individual stock performances, with FedEx rising after beating analyst estimates, while Nike and Lululemon sinked on disappointing guidance and slowing sales, the overall trend is still positive for the market, especially with the recent breakout of new highs and the Federal Reserve’s indication of upcoming rate cuts.

CRYPTO MARKET

Bitcoin fell by 2.15% for the day, with a value of $63,909.41 as of 3:00 PM CST, as stated by Coin Metrics.

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