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MARKET RECAP – MARCH 4, 2024

STOCK MARKET

Dow Jones ended at $38,989.83 (-0.25%)

S&P 500 ended at $5,130.95 (-0.12%)

Nasdaq Composite ended at $16,207.51 (-0.41%)

The stock market began the week with losses across all major indexes despite gains in technology stocks tied to the artificial intelligence boom. Additionally, losses in other tech stocks along with mixed performance from airlines contributed to the market’s downturn. Furthermore, uncertainty about the future direction of interest rates from the Federal Reserve Chair led investors to question whether to take profits or stay the course. This uncertainty contributed to the market’s muted moves from the Dow Jones Industrial Averag, the S&P 500, and the Nasdaq Composite. Moreover, looking ahead, traders will be monitoring data on employment and job openings, as well as updates from the Federal Reserve Chair, for further insight into the market’s direction.

CRYPTO MARKET

Bitcoin rose by 7.50% for the day, with a value of $67,515.17 as of 3:00 PM CST, as stated by Coin Metrics.

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