STOCK MARKET
Dow Jones ended at $33,129.55 (+0.39%)
S&P 500 ended at $4,263.75 (+0.81%)
Nasdaq Composite ended at $13,236.01 (+1.35%)
The stock market witnessed better performances as all three major indexes managed to recover from the significant losses experienced in the last trading session. This was due to the latest release of weaker-than-expected jobs data, which led to a pullback in Treasury yields. Consequently, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all increased, with the Nasdaq leading the upward trend as consumer discretionary sector performed the best, with notable gains from Tesla and Norwegian Cruise Lines. On the other hand, energy was the worst-performing sector as companies like Devon Energy, Marathon Oil, Schlumberger N.V. and APA all experienced significant declines. These decreases in stock price were attributed to falling crude prices, which affected the overall performance of the energy sector in the S&P 500, nonetheless, the index still managed to achieve some gains. Moreover, it is worth noting that although the decline in Treasury yields provided some relief for equities, concerns remain about the broader trend and the impact of higher interest rates, and investors are now eagerly awaiting the release of nonfarm payrolls data later in the week to gain further insights into the labor market’s strength.
CRYPTO MARKET
Bitcoin rose by 1.11% with a value of $27,621.25 as of 3:00 PM CST, as stated by Coin Metrics.