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MARKET RECAP – MAY 7, 2024

Written By: Jenny Galeano Gamboa

May 7, 2024

STOCK MARKET

Dow Jones ended at $38,884.26 (+0.08%)

S&P 500 ended at $5,187.70 (+0.13%)

Nasdaq Composite ended at $16,332.56 (-0.10%)

The stock market witnessed mixed performances as traders continue looking for more clues on when the Federal Reserve may start cutting rates. The Dow Jones Industrial Average and the S&P 500 saw little changes but mantained their upward momentum, while the Nasdaq Composite dropped slightly. Moreover, the market is closely watching the yield on the 10-year Treasury and how quickly it climbs or falls, as this can impact investor sentiment about the economy. Overall, the market is closely following the Fed’s actions and economic indicators to gauge future performance.

CRYPTO MARKET

Bitcoin fell by 0.04% for the day, with a value of $63,033.79 as of 3:00 PM CST, as stated by Coin Metrics.

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