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MARKET RECAP – NOVEMBER 1, 2024

Written By: Jenny Galeano Gamboa

November 1, 2024

STOCK MARKET

Dow Jones ended at $42,052.19 (+0.69%)

S&P 500 ended at $5,728.80 (+0.41%)

Nasdaq Composite ended at $18,239.92 (+0.80%)

The stock market began the month on a positive note as Amazon led big technology stocks into the green, and traders looked past a disappointing jobs report. Amazon’s strong performance, along with positive earnings from Intel, helped lift investor sentiment. Additionally, traders believed the weak jobs report was impacted by external factors such as hurricanes and a labor strike, and not indicative of broader economic weakness. Thus, despite this week being quite challenging for the stock market, investors are optimistic about the market’s performance going forward, with the U.S. Presidential election and the Federal Reserve’s upcoming policy meeting being key factors to watch. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all recovered from previous losses.

CRYPTO MARKET

Bitcoin fell by 1.60% for the day, with a value of $69,209.72 as of 3:00 PM CST, as stated by Coin Metrics.

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