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MARKET RECAP – NOVEMBER 7, 2024

Written By: Jenny Galeano Gamboa

November 7, 2024

STOCK MARKET

Dow Jones ended at $43,729.33 (-0.00%)

S&P 500 ended at $5,973.10 (+0.74%)

Nasdaq Composite ended at $19,269.46 (+1.51%)

The stock market witnessed mixed performances as the Dow Jones Industrial Average remained unchanged, while the S&P 500 and the Nasdaq Composite closed at record highs, extending a post-election rally following President-elect Donald Trump’s victory, while the Federal Reserve’s decision to cut interest rates also influenced market behavior. However, despite the overall positive trend, concerns arose from bond market volatility, worries about inflation due to proposed tax cuts and government deficits under Trump’s administration. Moreover, it is worth noting that while experts remain cautiously optimistic about the market’s future, they also recognize the need for monitoring stretched valuations in equities and potential risks associated with Trump’s policies, indicating that investors can expect ongoing volatility and market movements as more information becomes available.

CRYPTO MARKET

Bitcoin rose by 0.85% for the day, with a value of $76,604.44 as of 3:00 PM CST, as stated by Coin Metrics.

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