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MARKET RECAP – MAY 8, 2024

Written By: Jenny Galeano Gamboa

May 8, 2024

STOCK MARKET

Dow Jones ended at $39,056.39 (+0.44%)

S&P 500 ended at $5,187.67 (+0.00%)

Nasdaq Composite ended at $16,302.76 (-0.30%)

The stock market witnessed mixed performances as the Dow Jones Industrial Average climbed while the S&P 500 remained unchanged and the Nasdaq Composite declined. Tech sector weakness, particularly with companies like Uber, Intel, and Tesla, contributed to the mixed performance. Additionally, Federal Reserve commentary regarding interest rates and inflation also impacted investor sentiment. Nonethelese, despite these challenges, market analysts like Ross Mayfield believe that the market is experiencing a healthy correction with strong fundamentals and economic resilience.

CRYPTO MARKET

Bitcoin fell by 1.51% for the day, with a value of $62,146.21 as of 3:00 PM CST, as stated by Coin Metrics.

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