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MARKET RECAP – NOVEMBER 25, 2024

Written By: Jenny Galeano Gamboa

November 25, 2024

STOCK MARKET

Dow Jones ended at $44,736.57 (+0.99%)

S&P 500 ended at $5,987.37 (+0.30%)

Nasdaq Composite ended at $19,054.84 (+0.27%)

The stock market began the week on a positive note with all major indexes increasing because investors were optimistic about President-elect Donald Trump’s choice for Treasury secretary, Scott Bessent. They believe he will help guide the economy without sparking inflation and may mitigate some of Trump’s protectionist policies. This positive sentiment led to a broad stock rally, pushing the Dow Jones Industrial Average, S&P 500, and the Nasdaq Composite to new records. Additionally, Treasury yields and the U.S. dollar index pulled back following the Bessent pick, further boosting market confidence. Overall, the positive market reaction to Trump’s decision, combined with last week’s gains, has reignited the post-election rally. Moreover, the focus is now on the upcoming PCE index report due on Wednesday.

CRYPTO MARKET

Bitcoin fell by 1.84% for the day, with a value of $94,896.35 as of 3:00 PM CST, as stated by Coin Metrics.

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