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MARKET RECAP – MAY 15, 2024

STOCK MARKET

Dow Jones ended at $39,908.00 (+0.88%)

S&P 500 ended at $5,308.15 (+1.17%)

Nasdaq Composite ended at $16,742.39 (+1.40%)

The stock market witnessed significant gains across all major indexes due to a lighter-than-expected U.S. consumer inflation report. This news increased expectations for Federal Reserve rate cuts in the near future, leading to a positive response from investors. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all reached increased, with the last two indexes recording highs as tech companies like Nvidia benefited from the news, with their stocks rising. Overall, despite some setbacks, the market has been performing well this year, and due to the enthusiasm around artificial intelligence and lower Fed rates the current sentiment among investor is positive.

CRYPTO MARKET

Bitcoin rose by 7.41% for the day, with a value of $66,109.84 as of 3:00 PM CST, as stated by Coin Metrics.

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