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MARKET RECAP – NOVEMBER 6, 2024

Written By: Jenny Galeano Gamboa

November 6, 2024

STOCK MARKET

Dow Jones ended at $43,729.93 (+3.57%)

S&P 500 ended at $5,929.04 (+2.53%)

Nasdaq Composite ended at $18,983.47 (+2.95%)

The stock market witnessed a significant rally across all major indexes after Donald Trump won the 2024 presidential election. Investors saw Trump’s victory as positive for the economy, as he is viewed as supporting lower corporate tax rates, deregulation, and industrial policies that favor domestic growth. This belief led to a surge in stock prices, with the Dow Jones Industrial Average jumping to a record high and the S&P 500 hitting an all-time high. Industries that were expected to benefit under a Trump presidency, such as banks and small companies, saw particularly strong gains. Additionally, the Nasdaq Composite also joined the upward trend, reporting gains of almost 3%.

CRYPTO MARKET

Bitcoin rose by 9.56% for the day, with a value of $76,111.09 as of 3:00 PM CST, as stated by Coin Metrics.

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