Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel
Blog

MARKET RECAP – OCTOBER 17, 2023

STOCK MARKET

Dow Jones ended at $33,997.65 (+0.04%)

S&P 500 ended at $4,373.20 (-0.01%)

Nasdaq Composite ended at $13,533.75 (-0.25%)

The stock market witnessed mixed results as the Dow Jones Industrial Average and the S&P 500 ended almost unchanged, while the Nasdaq Composite decreased slightly. During the trading session investors were analyzing the latest bond yield moves and corporate earnings season as key factors impacting the market. The 10-year U.S. Treasury yield reached its highest level since October 6, following hotter-than-anticipated retail sales data, which raised concerns over the prospects of tighter Federal Reserve policy. Additionally, the ongoing Israel-Hamas war contributed to investor uncertainty about the global economy. On a positive note, a solid start to the third-quarter earnings season provided some relief, with Bank of America and Bank of New York Mellon reporting better-than-expected results. However, chip stocks such as Nvidia and Advanced Micro Devices struggled after the announcement of plans to tighten restrictions on sales of advanced artificial intelligence chips to China by the U.S. Department of Commerce.

CRYPTO MARKET

Bitcoin rose by 0.05% with a value of $28,535.18 as of 3:00 PM CST, as stated by Coin Metrics.

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

MARKET RECAP – JUNE 24, 2024

STOCK MARKET Dow Jones ended at $39,411.21 (+0.67%) S&P 500 ended at $5,447.87 (-0.31%) Nasdaq Composite ended at $17,496.82 (-1.09%) The stock market has continued its trend of mixed performances as there was a sector rotation. Investors moved away from big technology names, leading to declines in the tech-heavy Nasdaq Composite and the S&P 500, […]

Read More
Default Thumbnail

JUNE 24, 2024

CRYPTOS PLUNGED The cryptocurrency market is currently experiencing significant losses, marked by its second-largest weekly drop in 2024. This downturn reflects decreasing demand for Bitcoin exchange-traded funds (ETFs) and ongoing uncertainties surrounding monetary policy. An index from Bloomberg tracking the top 100 digital assets reported a 5% decline over the past week, the steepest since […]

Read More
Default Thumbnail

MARKET RECAP – JUNE 21, 2024

STOCK MARKET Dow Jones ended at $39,150.33 (+0.04%) S&P 500 ended at $5,464.62 (-0.16%) Nasdaq Composite ended at $17,689.36 (-0.18%) The stock market ended the week with mixed performances primarily due to the influential decline of the major player in the technology sector, Nvidia, which dragged down the S&P 500 and Nasdaq Composite. Meanwhile, the […]

Read More