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MARKET RECAP- NOVEMBER 15, 2023

STOCK MARKET

Dow Jones ended at $34,991.21 (+0.47%)

S&P 500 ended at $4,502.88 (+0.16%)

Nasdaq Composite ended at $14,103.84 (+0.07%)

The stock market experienced gains across all major indexes for a second consecutive session due to more encouraging inflation data and the possibility of avoiding a government shutdown. In addition, the positive movement in the stock market was also influenced by a rebound in the yield on the 10-year U.S. Treasury and strong corporate earnings from companies like Target and VF. Moreover, concerns about inflation were alleviated as the producer price index fell by 0.5%, marking its biggest monthly drop since April 2020. Consequently, as a result of these events, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased slightly, with the Nasdaq remaining almost unchanged but still on the positive side.

CRYPTO MARKET

Bitcoin rose by 6.42% for the day, with a value of $37,606.84 as of 3:00 PM CST, as stated by Coin Metrics.

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