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MARKET RECAP – SEPTEMBER 1, 2023

STOCK MARKET

Dow Jones ended at $34,837.71 (+0.33%)

S&P 500 ended at $4,515.77 (+0.18%)

Nasdaq Composite ended at $14,031.82 (-0.02%)

The stock market ended the week with mixed performances as traders weighted the latest U.S. jobs report, which showed a higher unemployment rate and slower wage growth than expected, suggesting a slowing economy and easing pricing pressures. The Dow Jones Industrial Average and the S&P 500 saw gains, and for the week they were up 2% and 1% respectively, making it their biggest weekly advance since July. Meanwhile, although the Nasdaq Composite slipped slightly, it remained almost unchanged and it was up nearly 3% for the week, joining the other two indexes in marking best one-week performance since July. Moreover, following the results revealed by the jobs report, traders have priced in a 91% chance of the Fed holding rates at the current levels at its policy meeting later this month.

CRYPTO MARKET

Bitcoin fell by 2.10% with a value of $25,625.63 as of 3:00 PM CST, as stated by Coin Metrics.

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