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MARKET RECAP – OCTOBER 18, 2024

Written By: Jenny Galeano Gamboa

October 18, 2024

STOCK MARKET

Dow Jones ended at $43,275.91 (+0.09%)

S&P 500 ended at $5,864.67 (+0.40%)

Nasdaq Composite ended at $18,489.55 (+0.63%)

The stock market ended the week on a positive note because both the Dow Jones Industrial Average and the S&P 500 closed at record highs, marking the year’s longest winning streak. The Nasdaq Composite also ended higher, led by a post-earnings jump in Netflix. Additionally, it is worth highlighting that more than 70 S&P 500 companies have reported better-than-expected earnings this season, leading to overall positive sentiment in the market. Furthermore, investors are also looking ahead to the upcoming election, with some analysts predicting that stocks may continue to rally through November. This is attributed to investors pricing in a potential win from Republican nominee Donald Trump, whose policies are seen as more business-friendly in terms of taxes and regulations. This optimism is driving the market higher despite expectations of increased volatility leading up to the election.

CRYPTO MARKET

Bitcoin rose by 2.63% for the day, with a value of $68,628.48 as of 3:00 PM CST, as stated by Coin Metrics.

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