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MARKET RECAP – OCTOBER 29, 2024

Written By: Jenny Galeano Gamboa

October 29, 2024

STOCK MARKET

Dow Jones ended at $42,233.05 (-0.36%)

S&P 500 ended at $5,832.92 (+0.16%)

Nasdaq Composite ended at $18,712.75 (+0.78%)

The stock market witnessed mixed performances as the Nasdaq Composite rose to a record close, driven by strong performances from major tech names ahead of their earnings releases. The S&P 500 also joined the upward trend, however, the Dow Jones Industrial Average underperformed. Investors are concerned about the expensive market and the need for earnings growth to justify high PE ratios. Moreover, it is worth remarking that with a busy week of earnings reports ahead and continued uncertainty surrounding Treasury yields and the upcoming U.S. presidential election, traders are preparing for potential near-term choppiness and downside volatility in the market. Thus, despite recent positive sessions, there is a sense of caution among investors.

CRYPTO MARKET

Bitcoin rose by 4.20% for the day, with a value of $72,567.04 as of 3:00 PM CST, as stated by Coin Metrics.

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