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MARKET RECAP – NOVEMBER 28, 2023

STOCK MARKET

Dow Jones ended at $35,416.98 (+0.24%)

S&P 500 ended at $4,554.89 (+0.10%)

Nasdaq Composite ended at $14,281.76 (+0.29%)

The stock market experienced gains across all major indexes due to comments made by Federal Reserve official Christopher Waller, who expressed confidence in the current policy being well-positioned to slow the economy and bring inflation back to 2%. His remarks raised hopes that the central bank may not need to raise interest rates further. Additionally, U.S. Treasury yields dipped, and consumer confidence improved in November, contributing to the positive market performance. Furthermore, strong performances from companies like Boeing, Nike, Walmart, Newmont Corporation, and Synchrony Financial also contributed to the gains. As a result, the Dow Jones Industrial Average and S&P 500 are on pace to finish the month substantially higher, while the Nasdaq Composite also joined the upward trend. Moreover, this positive momentum in the market has led to optimism regarding the health of the consumer and their willingness to continue spending.

CRYPTO MARKET

Bitcoin rose by 3.78% for the day, with a value of $38,274.00 as of 3:00 PM CST, as stated by Coin Metrics.

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