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MARKET RECAP – NOVEMBER 29, 2024

Written By: Jenny Galeano Gamboa

November 29, 2024

STOCK MARKET

Dow Jones ended at $44,910.65 (+0.42%)

S&P 500 ended at $6,032.38 (+0.56%)

Nasdaq Composite ended at $19,218.17 (+0.83%)

The stock market ended the week on a positive note, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite reaching new highs in today’s shortened trading session. Gains in chip stocks, such as Nvidia and Lam Research, drove much of the momentum after reports indicated that U.S. restrictions on semiconductor sales to China would be less severe than expected. Broad market strength saw three out of five S&P 500 stocks closing higher, pushing the index and Dow to record levels. In addition, optimism following Trump’s election win continued to lift markets, with investors anticipating policies like tax cuts benefiting small-cap stocks, evidenced by the Russell 2000’s 10.8% surge in November. Moreover, seasonal trends and lighter trading volume due to the Thanksgiving holiday further contributed to the bullish market environment.

CRYPTO MARKET

Bitcoin rose by 2.30% for the day, with a value of $97,418.60 as of 3:00 PM CST, as stated by Coin Metrics.

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