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.
