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MARKET RECAP – OCTOBER 5, 2023

STOCK MARKET

Dow Jones ended at $33,119.57 (-0.03%)

S&P 500 ended at $4,258.19 (-0.13%)

Nasdaq Composite ended at $13,219.83 (-0.12%)

The stock market witnessed modest declines across all major indexes as the slight increase in jobless claims, although expected, disappointed some investors who were hoping for signs of a labor market breakdown that would cause the Federal Reserve to reconsider raising rates. Investors now remain cautious ahead of key jobs data, which will be released tomorrow morning, and will give further direction on the next move for interest rates. As a result, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all decreased, with the Dow remaining almost unchanged. Moreover, the higher Treasury yields, as well as the losses experienced by consumer staples companies, such as Molson Coors, Clorox, and PepsiCo further contributed to the overall decline in the stock market.

CRYPTO MARKET

Bitcoin fell by 0.65% with a value of $27,494.83 as of 3:00 PM CST, as stated by Coin Metrics.

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