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MARKET RECAP – MARCH 6, 2024

STOCK MARKET

Dow Jones ended at $38,661.05 (+0.20%)

S&P 500 ended at $5,104.76 (+0.51%)

Nasdaq Composite ended at $15,031.54 (+0.58%)

The stock market experienced gains across all major indexes as investors attempted to turn a corner following back-to-back losing sessions on Wall Street. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all saw increases, despite some major tech names sitting out of the rally. Concerns around troubled regional bank New York Community Bancorp and Apple’s continued decline were present, but overall investors are optimistic about the potential for lower interest rates, as Federal Reserve Chair Jerome Powell suggested that the central bank could lower rates this year. This led investors to believe that the bias is likely toward lower rates in the future, and they remain in “wait-and-see mode”.

CRYPTO MARKET

Bitcoin rose by 7.43% for the day, with a value of $66,969.42 as of 3:00 PM CST, as stated by Coin Metrics.

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