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

MARKET RECAP – OCTOBER 3, 2023

STOCK MARKET

Dow Jones ended at $33,002.38 (-1.29%)

S&P 500 ended at $4,229.45 (-1.37%)

Nasdaq Composite ended at $13,059.47 (-1.87%)

The stock market witnessed significant losses across all major indexes as Treasury yields surged to their highest levels in over a decade. This rise in yields raised concerns about higher interest rates, which could potentially freeze the housing market and even push the economy towards a recession. As a result, the Dow Jones Industrial Average experienced its biggest decline since March, while the S&P 500 slid to its lowest level since June. In addition, the tech-heavy Nasdaq Composite also decreased, leading the downward trend as growth stocks like Nvidia and Microsoft suffered some of the biggest losses due to the increase in rates, which dampened enthusiasm for their future earnings potential. Moreover, the release of a strong job openings survey signaled a tight labor market, further weighing down investors’ sentiment as this can allow the Federal Reserve to pursue tighter monetary policy without fear of going too far.

CRYPTO MARKET

Bitcoin fell by 1.98% with a value of $27,314.97 as of 3:00 PM CST, as stated by Coin Metrics.

0 Comments
Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

MARKET RECAP – APRIL 24, 2024

STOCK MARKET Dow Jones ended at $38,712.75 (-0.11%) S&P 500 ended at $5,071.63 (+0.02%) Nasdaq Composite ended at $15,712.75 (+0.10%) The stock market witnessed mixed performances due to interest rate fears dampening earnings enthusiasm. The concerning sentiment was due to the latest rise in bond yields, and as a result of this, the Dow Jones […]

Read More
Default Thumbnail

APRIL 24, 2024

STEADY MODE The top cryptocurrencies in the market, are currently experiencing a period of stability as traders evaluate market conditions post-halving. With Bitcoin trading above $66,600 and Ether at around $3,240, the market has calmed down after recent volatility driven by geopolitical tensions and halving excitement. As of today, traders seem hesitant to take decisive […]

Read More
Default Thumbnail

MARKET RECAP – APRIL 23, 2024

STOCK MARKET Dow Jones ended at $38,503.69 (+0.69%) S&P 500 ended at $5,070.55 (+1.20%) Nasdaq Composite ended at $15,696.64 (+1.59%) The stock market witnessed gains across all major indexes due to a strong batch of corporate earnings that exceeded expectations. Companies such as Spotify, UPS, and GE Aerospace posted better-than-expected earnings, leading to a positive […]

Read More