STOCK MARKET
Dow Jones ended at $42,740.42 (-0.75%)
S&P 500 ended at $5,815.26 (-0.76%)
Nasdaq Composite ended at $18,315.59 (-1.01%)
The stock market retreated from yesterday’s gains as all major indexes fell due to disappointing earnings reports from key companies such as ASML and UnitedHealth, which contributed to a decline in chipmakers and the overall market. In addition, concerns about a slower-than-expected recovery and cautiousness among customers also weighed on investor sentiment, and as a result of this, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite fell. Nevertheless, despite the pullback, strong third-quarter earnings and a robust fundamental backdrop are expected to support stocks at their current levels, with analysts projecting a 3% increase in the benchmark by year-end. Moreover, while concerns about global tensions, election-related nuances, and elevated valuations persist, the equity market remains positive in the year-to-date, although volatility may become more prevalent in the near term.
CRYPTO MARKET
Bitcoin rose by 1.54% for the day, with a value of $66,979.71 as of 3:00 PM CST, as stated by Coin Metrics.
