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MARKET RECAP – NOVEMBER 5, 2024

Written By: Jenny Galeano Gamboa

November 5, 2024

STOCK MARKET

Dow Jones ended at $42,221.88 (+1.02%)

S&P 500 ended at $5,782.76 (+1.23%)

Nasdaq Composite ended at $18,439.17 (+1.43%)

The stock market witnessed gains across all major indexes as traders awaited the results of the high-stakes U.S. presidential election. Investors were optimistic that the uncertainty and potential drama surrounding the election would unwind, leading to a broad rally on Wall Street. Additionally, it has been stated that the economy has been in good shape regardless of the election outcome, which further boosted investor confidence. As a result of this, stocks in various sectors, such as banks and technology companies, saw gains, boosting the Dow Jones Industrial Average, the Nasdaq Composite and the S&P 500, with the latter already up by more than 20% year to date

CRYPTO MARKET

Bitcoin rose by 2.97% for the day, with a value of $69,490.77 as of 3:00 PM CST, as stated by Coin Metrics.

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