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MARKET RECAP – MAY 14, 2024

STOCK MARKET

Dow Jones ended at $39,558.11 (+0.32%)

S&P 500 ended at $5,246.68 (+0.48%)

Nasdaq Composite ended at $16,511.18 (+0.75%)

The stock market witnessed better performances today with all major indexes reporting gains. This was primarily due to the release of fresh U.S. economic data, which provided a positive outlook for investors.The producer price index reading for April coming in above estimates initially caused some concern, however, the revision of the March’s wholesale prices helped alleviate worries about stubbornly high inflation. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased, with the latter rising for a second trading session as GameShop continued its upward momentum.

CRYPTO MARKET

Bitcoin fell by 2.38% for the day, with a value of $61,551.24 as of 3:00 PM CST, as stated by Coin Metrics.

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