STOCK MARKET

Dow Jones ended at $33,141.38 (+0.62%)

S&P 500 ended at $4,247.68 (+0.73%)

Nasdaq Composite ended at $13,139.88 (+0.93%)

The stock market experienced gains across all major indexes following the solid start to the earnings season, with companies like Coca-Cola and Spotify reporting positive results that exceeded expectations. This bolstered investor confidence and led to an increase in stock prices. Additionally, investors have been closely monitoring the latest moves in Treasury yields, as the U.S. 10-year Treasury yield, which had been rising and causing concerns about the state of the broader economy, fell below the 5% mark. This alleviated some of the pressure on the stock market and provided a boost to investor sentiment. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased. Furthermore, the overall earnings season has started off strong, with a significant number of S&P 500 companies reporting earnings that surpassed analysts’ expectations. Nonetheless, despite the positive performances witnessed today, it is worth noting that there are concerns about the high valuations of big tech stocks, even if their earnings results are positive as according to Bahnsen Group’s chief investment officer, David Bahnsen, these stocks are still considered too expensive and priced for perfection. Therefore, this cautionary sentiment may temper the overall market gains, especially for the tech sector.

CRYPTO MARKET

Bitcoin rose by 7.98% with a value of $33,782.47 as of 3:00 PM CST, as stated by Coin Metrics.