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MARKET RECAP – OCTOBER 9, 2023

STOCK MARKET

Dow Jones ended at $33,604.55 (+0.59%)

S&P 500 ended at $4,335.66 (+0.63%)

Nasdaq Composite ended at $13,484.24 (+0.39%)

The stock market began the week with gains across all major indexes as investors were able to shake off the pressures driven by the current Israel-Hamas conflict. Despite initial losses earlier in the day, the market staged a comeback, with the Dow Jones Industrial Average, the S&P 500 and the tech-heavy Nasdaq Composite all increasing slightly. Furthermore, the geopolitical tensions caused by the current conflict were thought to have potential ramifications for the energy market, with experts forecasting a brief surge in crude prices. Consequently, oil companies saw significant gains, with Lockheed Martin, Northrop Grumman Corp, Marathon Oil, and Exxon Mobil all climbing. Moreover, Investors expressed confidence that the market had already assessed the impact of the attack, and small caps rose, boosting confidence about the broader economy. Looking ahead, investors are also anticipating earnings reports from companies like PepsiCo, Walgreens Boots Alliance, JPMorgan, and BlackRock, which will provide further signals about the health of the broader economy.

CRYPTO MARKET

Bitcoin fell by 1.07% with a value of $27,608.98 as of 3:00 PM CST, as stated by Coin Metrics.

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