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MARKET RECAP – NOVEMBER 22, 2023

STOCK MARKET

Dow Jones ended at $35,273.03 (+0.53%)

S&P 500 ended at $4,556.62 (+0.41%)

Nasdaq Composite ended at $14,265.86 (+0.46%)

The stock market switched back to witnessing gains across all major indexes after yields briefly fell to their lowest level in two months. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased. In addition, the positive performance was also driven by widening breadth for the market rally, with more than half of the stocks trading on the New York Stock Exchange experiencing gains. Moreover, the energy sector’s loss was offset by the outperformance of small- and mid-caps, and the rebound of the 10-year Treasury yield following its significant drop after crossing the 5% mark in October. Furthermore, investors also remained optimistic that the Federal Reserve would not raise interest rates at its December meeting, based on fed funds futures trading.

CRYPTO MARKET

Bitcoin rose by 1.76% for the day, with a value of $37,657.87 as of 3:00 PM CST, as stated by Coin Metrics.

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