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MARKET RECAP – OCTOBER 9, 2024

Written By: Jenny Galeano Gamboa

October 9, 2024

STOCK MARKET

Dow Jones ended at $42,512.00 (+1.03%)

S&P 500 ended at $5,792.04 (+0.71%)

Nasdaq Composite ended at $18,291.62 (+0.60%)

The stock market continued its upward trend across all major indexes for a second consecutive day, with the Dow Jones Industrial Average surging more than 1% to a record close and the S&P 500 hitting an all-time high. Technology stocks led the rally, with companies like Amazon, Apple, and Super Micro Computer posting significant gains. As a result, the Nasdaq Composite also increased. Moreover, it is worth remarking that despite the lingering concerns about geopolitical risks and a mixed global market, investors seem to continue being buoyed by the Federal Reserve’s decision to cut rates and are optimistic outlook on corporate performance and the economy.

CRYPTO MARKET

Bitcoin fell by 2.04% for the day, with a value of $60,914.94 as of 3:00 PM CST, as stated by Coin Metrics.

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