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

MARKET RECAP – OCTOBER 27, 2023

STOCK MARKET

Dow Jones ended at $32,417.59 (-1.12%)

S&P 500 ended at $4,117.37 (-0.48%)

Nasdaq Composite ended at $12,643.01 (+0.38%)

The stock market ended the week with mixed results as renewed selling on fears of a recession caused the Dow Jones Industrial Average and the S&P 500 to decline, with the latter entering correction territory. This selling pressure was driven by concerns over the current economic outlook. Additionally, declining stocks in certain sectors, such as JPMorgan Chase, contributed to the overall decrease in the market as JPMorgan Chase’s CEO’s announcement of plans to sell 1 million shares next year caused the stock to decline and put pressure on the Dow.  Furthermore, other major factors affecting the market were disappointing earnings reports from companies like Ford and Chevron, which put additional pressure on the market. Ford’s stock dropped more than 10% after missing third quarter expectations and withdrawing its guidance, while Chevron’s shares were down after the company reported its earnings. Nonetheless, despite the negative sentiment in the overall market, the Nasdaq Composite managed to hold on to a slight gain thanks to the positive performance of Amazon as its shares rose more than 6% after exceeding expectations for revenue and earnings in the third quarter.

CRYPTO MARKET

Bitcoin fell by 0.88% with a value of $33,701.93 as of 3:00 PM CST, as stated by Coin Metrics.

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

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
Default Thumbnail

JUNE 21, 2024

STEEP OUTFLOWS It has been reported that as of yesterday, Bitcoin exchange-traded funds (ETFs) in the U.S. recorded their fifth consecutive day of outflows, losing over $900 million this week. Data from SoSoValue indicates that the 11 listed ETFs experienced a loss of $140 million on Thursday with $1.1 billion in trading volumes. Grayscale’s GBTC, […]

Read More