STOCK MARKET
Dow Jones ended at $44,722.06 (-0.31%)
S&P 500 ended at $5,998.74 (-0.38%)
Nasdaq Composite ended at $19,060.48 (-0.60%)
The stock market retreated from its recent gains due to investors taking some risk off the table following big November gains. This was reflected in a decrease in the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite. Traders appeared to be taking profits on technology stocks that have performed well throughout the year, such as Nvidia and Meta Platforms. Additionally, weak earnings guidance from companies like Dell and HP contributed to the decline in the market. Furthermore, the release of the latest reading of the personal consumption expenditures price index also impacted investor sentiment, with inflation figures in line with expectations. Nevertheless, despite today’s bearish trading session, this week has been positive for the stock market, especially due to the Dow and S&P 500 reaching all-time highs. In addition, November trading has also been positive due to the postelection rally following President-elect Donald Trump’s victory.
CRYPTO MARKET
Bitcoin rose by 5.87% for the day, with a value of $96,612.73 as of 3:00 PM CST, as stated by Coin Metrics.
