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MARKET RECAP – NOVEMBER 13, 2023

Written By: Jenny Galeano Gamboa

November 13, 2023

STOCK MARKET

Dow Jones ended at $34,337.87 (+0.156%)

S&P 500 ended at $4,411.55 (-0.08%)

Nasdaq Composite ended at $13,767.74 (-0.22%)

The stock market began the week with mixed performances as traders reacted to Moody’s Investors Service lowering its U.S. credit rating outlook to negative from stable. This news initially caused fluctuations in stock prices, with the Dow Jones Industrial Average managing to increase, while the S&P 500 and Nasdaq Composite decreased slightly. Nonetheless, it is worth noting that despite the very small decline experienced by the S&P 500, there were individual companies within the S&P 500 that experienced gains, such as DaVita, Insulet, and Henry Schein, each of which saw increases of more than 7%. Moreover, the anticipation around this week’s release of fresh U.S. inflation data and the resulting Federal Reserve policy also contributed to today’s market volatility.

CRYPTO MARKET

Bitcoin fell by 0.98% for the day, with a value of $36,772.60 as of 3:00 PM CST, as stated by Coin Metrics.

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