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MARKET RECAP – NOVEMBER 20, 2023

STOCK MARKET

Dow Jones ended at $35,151.04 (+0.58%)

S&P 500 ended at $4,547.38 (+0.74%)

Nasdaq Composite ended at $14,284.53 (+1.13%)

The stock market kicked off the week with gains across all major indexes, driven by strong performance in the tech sector, particularly from companies like Microsoft and Nvidia. Positive news from Microsoft, including the announcement of a new AI research team, alongside chipmaker Nvidia’s strong performance ahead of its earnings report, contributed to the market’s bullish sentiment. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased with the Nasdaq leading the upward trend. Moreover, the upcoming Thanksgiving holiday and a positive outlook for November, which is historically the best-performing month for the S&P 500, further buoyed investor confidence. Furthermore, the market was supported by cooler-than-expected U.S. inflation data and a drop in Treasury yields, while upcoming Fed minutes will be closely watched by Wall Street.

CRYPTO MARKET

Bitcoin rose by 1.98% for the day, with a value of $37,639.09 as of 3:00 PM CST, as stated by Coin Metrics.

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