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MARKET RECAP – OCTOBER 13, 2023

Written By: Jenny Galeano Gamboa

October 13, 2023

STOCK MARKET

Dow Jones ended at $33,670.29 (+0.12%)

S&P 500 ended at $4,327.78 (-0.50%)

Nasdaq Composite ended at $13,407.23 (-1.23%)

The stock market ended the week with mixed results as the S&P 500 and the Nasdaq Composite following the recent spike in oil prices. This rise experienced in the oil sector was due to the fears caused by the possibility of the Israel-Hamas war escalating geopolitical tensions in the Middle East. Additionally, the recent survey from the University of Michigan, which revealed rising inflation expectations, also contributed to the losses experienced in both indexes. Moreover, although the Dow Jones Industrial Average had also decreased, it managed to end the week on a positive note with slight gains.

CRYPTO MARKET

Bitcoin rose by 0.28% with a value of $26,771.00 as of 3:00 PM CST, as stated by Coin Metrics.

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