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MARKET RECAP -JUNE 5, 2024

Written By: Jenny Galeano Gamboa

June 5, 2024

STOCK MARKET

Dow Jones ended at $38,807.33 (+0.25%)

S&P 500 ended at $5,354.03 (+1.18%)

Nasdaq Composite ended at $17,187.91 (+1.96%)

The stock market continued witnessing gains across all major indexes for a second day in a row due to a combination of factors. Nvidia’s strong performance and the overall rise in major tech stocks contributed to the positive sentiment. Additionally, slightly weak labor market data led investors to believe that the Federal Reserve might lower interest rates later in the year, which would be beneficial for the stock market.The record-setting performance of the S&P 500 and Nasdaq Composite indexes, along with Nvidia’s new milestone of reaching a $3 trillion market value, added to the optimism in the market. Moreover, the Dow Jones Industrial Average also joined the upward trend.

CRYPTO MARKET

Bitcoin rose by 1.38% for the day, with a value of $71,371.01 as of 3:00 PM CST, as stated by Coin Metrics.

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